Nationalisation of Northern Rock that Northern Rock was to be nationalised claiming that the private bids did not offer "sufficient value for money to the taxpayer" and thus the bank was to be brought under a "temporary period of public ownership". The government is the sole shareholder through UK Financial Investments Limited, and the Bank is managed at "arm's length" on a commercial basis by an independent board under Ron Sandler. Customers are not affected by this change. A Government-appointed arbitration panel will decide on a fair price for the compensation to be offered to investors for their shares. Prior to the markets opening
Nationalisation in Pakistan shipping companies were merged with Pakistan National Shipping Corporation by Bhutto's nationalisation programme; those who protested were imprisoned by the government. At an international level, the United States fully opposed the nationalisation programme and marked it as "ill-considered" decision of the government. Former prime minister Nawaz Sharif, an affectee of nationalisation process, gave vehement criticism and cited nationalisation programme as "lamentable state of Pakistan". While on the other hand, the unnamed and anonymous United States embassy officer later further noted that: The Pakistan Peoples Party's intellectuals on the other hand, vigorously defended the nationalisation programme. The Peoples Party maintained that