*ISLAMABAD – Adviser to PM on Finance Hafeez Sheikh said on Sunday that thegovernment has decided to expedite the process of privatisation of somestate-owned enterprises.*

Sheikh said so while speaking at a press conference in Islamabad. He saidcurrently the privatisation of the National Bank of Pakistan and the StateLife Insurance Corporation of Pakistan is under consideration.

The PM’s adviser said the economic indicators were “worrisome”, when theincumbent government took over the reins of the country. He said thecountry was going to be bankrupted because of the past policies.

“We improved the economic situation through financial reforms,” Sheikhsaid. “The current account deficit was reduced by 73%.”

He said the government froze the defence budget and set a target of Rs5,500billion tax collection.