The federal government has announced a revised strategy for the privatisation of Pakistan International Airlines Corporation Limited (PIACL), aimed at addressing challenges faced in previous efforts and ensuring a smoother process.
Key Announcements
Federal Minister Abdul Aleem Khan, who oversees privatisation, investment, and communications, chaired a meeting of the Privatisation Commission Board on Tuesday, emphasizing the government’s commitment to economic reforms and efficient state-owned enterprise management.
- Reforms to Attract Investors
- Aleem Khan highlighted that recent reforms have made PIA’s privatisation “easier and more attractive,” increasing its appeal to potential investors.
- A significant aspect of the revised strategy is the removal of liabilities from PIA’s privatisation, a move designed to attract bidders without the burden of debt.
- Focus on Key Distribution Companies (Discos)
- The minister directed the board to finalize outstanding issues with the Ministry of Energy within a week, accelerating the privatisation process for distribution companies (Discos).
- Progress and Recommendations
- The board reviewed and approved proceedings from its previous session, addressing critical recommendations on various government entities.
- Members stressed the urgency of resolving pending matters with ministries to maintain momentum in the privatisation agenda.
Government’s Commitment to Economic Reforms
Aleem Khan reiterated the government’s determination to pursue economic reforms, stating that the efficient management and privatisation of state-owned enterprises are central to this mission. He urged the Privatisation Commission Board to complete pending tasks swiftly, ensuring the timeline for privatisation is met effectively.
PIA’s Privatisation: A New Chapter
The revised strategy reflects a pragmatic approach, incorporating lessons from past experiences and focusing on reducing financial barriers for potential investors. By excluding liabilities, the government aims to attract substantial private sector interest, promising a brighter future for PIA and the broader economy.
This effort underscores Pakistan’s broader push to privatise state-owned entities, reduce fiscal burdens, and enhance overall economic efficiency.
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