PIA’s Sell-off Strategy
ISLAMABAD: On Thursday, Privatization Minister Fawad Hassan Fawad restated the government’s determined commitment to divest major loss-making state-owned enterprises, aiming to prevent a substantial drain on financial resources and enhance their efficiency.
During a meeting with World Bank Resident Director Najy Benhassine, the minister discussed the privatisation agenda, with a specific emphasis on the divestment of PIA and other state-owned entities to optimize the performance of ex-Wapda distribution companies (Discos).
Mr. Fawad elucidated the key points of the PIA sell-off plan, expressing the government’s intention to involve the World Bank and other financial institutions in the initial phases of this endeavor. He also emphasized the intention to create a comprehensive model for PIA, with the World Bank as a potential future support partner.
Meanwhile, official sources disclosed that a board meeting of the Privatisation Commission, with a single agenda item, would address the privatisation of PIA on Friday.
Given PIA’s persistent and significant financial losses, amounting to billions of rupees annually, its privatization is deemed essential to curtail these losses and enhance operational efficiency.
The Privatization Minister underscored the overarching objective of attracting much-needed private investment through the privatization process, thereby freeing up government funds for allocation to critical sectors.
Overall, Privatization Minister Fawad Hassan Fawad emphasized the government’s commitment to divest PIA’s sell-off strategy for efficiency.
Diplomatic Tour: Nawaz Sharif To Visit Four Nations Before His Return To Pakistan
Moreover,
Former Prime Minister Mian Nawaz Sharif, the lifetime chief of the Pakistan Muslim League-Nawaz (PML-N), has laid out plans to undertake visits to four countries before his anticipated return to Pakistan.
The details of these trips are currently in the finalization stage with the strategic aim of attracting substantial investments to Pakistan.
