2024-05-02 18:02:52
It has been decided to extend 15 days in the applications for privatization of (Waqas Azim) National Airline (PIA).
Privatization Minister Abdul Aleem Khan has said that there will be no further extension in the submission of expressions of interest in PIA, 10 well-known companies have expressed interest in the privatization of PIA, the interested companies have asked for 15 days more time.
Abdul Aleem Khan said that Bilawal Bhutto and People’s Party love Pakistan, he has full confidence that Bilawal will convince them by meeting Bilawal Bhutto. Those who recognize the loss of 830 billion to PIA do not see their interest in privatization.
The federal minister said that privatization of all loss-making institutions is a priority, steel mills, PIA and discos are a burden on the economy, loss-making institutions have a role in stopping the development of Pakistan, all airlines are also owned by PIA. The share of competition is low, PIA has routes like Jeddah, Madinah, China and Hong Kong, PIA has direct flights to London, Washington and Toronto, PIA is profitable on the day new aircraft arrive. Will go away, the private sector and investors understand the benefits in PIA.
Abdul Aleem Khan said that the process of privatization of PIA will be 100% transparent and in front of the media, PIA employees will not have any problem, PIA’s annual loss of Rs 100 is equivalent to throwing money into a well. If the loss of billions is saved by privatizing, the money can be spent on welfare projects, it is too much to lose 400 to 500 billion annually, the federal minister said now they want to privatize 6 to 7 discos, only 3 discos of a strategic nature are government They want to keep, First Women Bank, House Building Finance Corporation and power plants also want to be privatized.
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2024-05-02 18:02:52