ISLAMABAD: In an effort to divert attention away from state-run companies and towards SMEs, Federal Minister for Petroleum Dr. Musadik Malik said on Saturday that the government encourages young people to launch their own companies.

Malik clarified the government’s intention to withdraw from corporate endeavours, especially those that result in losses for the state, in response to the proposed privatisation of the Pakistan Minerals Development Corporation. He emphasised that educated young people should seek business instead of depending on government employment. He emphasised that SOE, especially PMDC, have cost Pakistan billions of dollars.