The privatization process of Pakistan International Airlines (PIA) is moving forward, with October 1 identified as a pivotal deadline.
Footwear Association Exhibition Showcases Opportunities for Pakistani Businesses.
Minister for Investment Abdul Aleem Khan Commends Footwear Association Exhibition, Highlights Growing Export Potential
Minister for Investment Abdul Aleem Khan praised the Footwear Association exhibition for showcasing products that meet high international standards and for their expanding export presence. He acknowledged the strengthened relationships with international brands and the increasing participation of Chinese companies in joint ventures with Pakistani firms.
In alignment with the Prime Minister’s request, the exhibition will move to China a month earlier than planned this year.
Khan emphasized the exhibition’s success and expressed gratitude to the Prime Minister and the Minister of Commerce for their unwavering support. He also noted the Prime Minister’s call to increase the number of trade officers fivefold, aiming to raise their total to around 20.
He reiterated that the government’s role is to facilitate business rather than operate it, urging Pakistani entrepreneurs to capitalize on the opportunities arising from the relocation of companies from China due to rising costs. Khan assured the business community that the Federal Board of Revenue (FBR) would provide support with taxation, banking, and other challenges while advocating for their interests.
Regarding the privatization of Pakistan International Airlines (PIA), Abdul Aleem Khan stated, “The process is moving forward, with October 1 marked as a crucial date.” He revealed that six Pakistani companies, in collaboration with international partners from the UAE, Malaysia, and Turkey, are engaged in the privatization effort, and a suitable firm will be selected to take over PIA. Khan highlighted the significant financial losses incurred by PIA and the government’s dedication to addressing these issues through the privatization of institutions to enhance economic efficiency.
