Originally Published at THENEWS! Employees turn millionaires overnight; Govt gives 12pc of shareholding in PPL to employees.

Hundreds of junior-cadre workers of the state-run Pakistan Petroleum PPL became millionaires overnight after getting ownership certificates of their company under the Benazir Employees Stock Option scheme.

Clad in traditional Balochi-style shalwar-kamiz and big turbans, Bugti tribesmen chanted pro-government slogans as they received share certificates on Sunday from Federal Petroleum Minister Naveed Qamar at a ceremony held at the Sui Gas Field.

PPL Managing Director Khalid Rehman and other senior officials were also present.

Many of the employees have served the company for 20 to 25 years, which means they are now entitled to around Rs8 to 12 million each. As many as 2, permanent employees — from peons, clerks to senior managers — benefited from the scheme aimed at motivating the workforce for better results.

They will be transferred to a trust managed by equal representatives of employees and the ministry of petroleum.

Benazir Employees Stock Option Scheme: public entities employees to get 12% shares fesajina.web.fc2.com

Half of the dividend will go to employees, while rest to Privatisation Commission. Abdul Qayum, 47, a technician at Sui gas field, who has been with PPL for the last 27 years, said he and his family were jubilant on receiving such a hefty amount.

But now this dream has become a reality… Now all my children will go to university. Qamar, the petroleum minister, said the government was under fire from some quarters because of this scheme, which entitled an employee to millions on retirement.

It was good at motivating the workforce when they were made owners of their company, he said. The minister said it would also help to end the sense of deprivation in Balochistan, where a low-intensity insurgency had been raging for the past several years. About deteriorating security situation in the volatile province, he said the past governments only focused on administrative measures, including security and ignored political steps needed to resolve the issue.

Qamar also performed groundbreaking of a PPL-funded hospital in Sui — the first, which is being constructed outside the high security zone of the gas field. Sui has remained the single largest gas producing field of the country since But attacks by Baloch separatists demanding greater autonomy has seriously hampered further exploration.

NBP, HBL & UBL refusal for share – Govt may re-examine employees stock option scheme | PAKWORKERS

PPL has just recently started drilling its 92nd well here after a gap of five years. My parents cannot given me the expenses for furtur study therefor i want to get admission in MBA. And i want to get some money evry month by benazir income suuport programme please inform me urgent Thank you. Hey, awesome blog you have made..

How long made it happen take you to get this to? And where did you get your background?? Balochistan , Benazir Bhutto , Good Governance and Bad Governance , Poor Masses , Poverty , PPP , SUI , Syed Naveed Qamar.

Hughes Optioneering

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