Sir: The privatisation of national institutions has always been a tricky thing when it comes to developing economies like Pakistan. Since 2013, Pakistan has reached an agreement with the International Monetary Fund (IMF) on a new structural adjustment programme, according to which the IMF has called for privatisation of various national organisations/institutions so that their working could be improved. But it seems the basic purpose of privatisation is something else. The news of privatisation of Habib Bank Limited (HBL), one of the largest banks of the country, has raised some serious questions. During the last year, the profit of HBL was in billions, so the logic of privatisation of such a well performing financial institution is quite difficult to understand. It is pertinent to mention that the government holds 41 percent shares in HBL. According to news sources, the per share price of HBL approved by the Privatisation Commission is about Rs 180 to 190 per share, but the government wants to sell these shares at the rate of Rs 160 to 170 per share. The loss of Rs 20 to 25 per share will never be recoverable. Deals with the IMF have always created problems for our economy. The revenue targets suggested by the IMF are too high and the government has to do things like privatisation. It also illustrates the weak taxation system. With every passing year, the Federal Board of Revenue (FBR) is becoming a white elephant for Pakistan’s economy. The ever decreasing tax net is creating problems, while corruption and weak working within FBR suggests that it is FBR that should be privatised. HASSAM WAHEEDLahore