Privatization Minister Abdul Aleem Khan has reaffirmed the government’s commitment to the strategic privatization of Pakistan International Airlines (PIA), with plans to make the national carrier profitable through regulatory improvements & sufficient funding. Addressing a press conference, Khan emphasized that the privatization framework was established before his tenure, & his role is now to execute it transparently.
- Federal Privatization Minister Abdul Aleem Khan introduced an enhanced strategy for Pakistan International Airlines (PIA) privatization, aiming to make the airline profitable with improved regulations & proper funding.
- Khan emphasized that the privatization process began before his tenure, but he remains committed to conducting it transparently and ensuring full media coverage.
- Provincial governments, including Punjab & Khyber Pakhtunkhwa, are welcome to participate, with plans to clear Rs200 billion in liabilities, presenting a debt-free “Clean PIA” for investors.
- In addition to PIA, the government has also scheduled nine Distribution Companies (Discos) for privatization, & Saudi Arabia has pledged over $2.8 billion in investments.
- Khan projects the Communication Sector’s annual revenue could reach Rs500 billion within five years, supported by strengthened policies & international tenders.
- Former Finance Minister Miftah Ismail raised concerns about provincial government involvement in PIA, suggesting a focus on core responsibilities instead.
To attract investors, Khan invited participation from provincial governments, with a plan to remove Rs200 billion in liabilities, making PIA a debt-free asset. Alongside PIA, nine other Distribution Companies are also on the privatization track. Khan also highlighted substantial economic strides, including projected annual revenue of Rs500 billion in the Communication Sector within five years, boosted by enhanced policies & international contracting.
Former Finance Minister Miftah Ismail expressed reservations about provincial involvement in PIA, stressing that governments should prioritize local responsibilities rather than manage airlines. This announcement signals the government’s proactive approach to reinvigorate PIA while aligning with global standards & fostering economic growth in Pakistan.
