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NAZIM HUSSAIN SIDDIQUI, J.---This judgment will dispose of Constitution Petitions Nos. 756 of 1993, 138 of 1994 and 2326 of 1994. In these petitions, common question of law and facts are involved. The facts necessary for disposal of these petitions are as follows:---   In Petition No. 138 of 1994 Nayadaur Motors Officers Association and their President and General Secretary namely, Shabbir Asghar, and Muhammad Akmal Khan respectively, have challenged the privatization of respondent No.4 (NAYADAUR MOTORS) and the transfer of its share to the respondents Nos. 5 to 7 namely, Fareed Tawakkal, Farooq Tawakkal, and Javed Hussain. It is their case that the transfer of the, respondent No.4 to above-named respondents is illegal and 'of no legal consequence. Further, the petitioners have prayed to declare that the respondents Nos. 5 to 8 have no legal authority to terminate the services of the Officers of respondent No.4 or take any other decision which may ultimately affect their conditions of employment prior to privatization. In the alternative, the petitioners have prayed to declare that the officers of respondent No.4' are entitled to the benefit under package 'B' of the memorandum of agreement dated 15-10-1991, which was arrived at between the three Federal Ministers, the Chairman of the Privatization Commission, and the representatives of the employees of the State-owned Industries. It is said that in the year 1973 the respondent No.4 was primarily engaged in assembling four wheel drive automobile and was, functioning under the name "Kandawala Industries Ltd." Consequent upon enforcement of President Order No.1 of 1972, Economic Reform Order 1972, the management of respondent No.4 was taken over by the Central Government. In the year 1973,. by virtue of an Act No.LXIV of 1973, Economic Reform (Amendment) Act, 1973, the controlling shares of the previous owners were acquired by the Government and transferred to respondent No.3 Pakistan Automobile Corporation Ltd. on the ground that development of the industry was necessary and it was in the public interest. In the year 1978, President Order No.12 Transfer of Managed Establishment…