Business

Govt can’t provide Rs40bn subsidy to PIA every year: Dastagir

LAHORE: Minister for Trade and Commerce, Khurram Dastagir on Friday said it has become inevitable to privatize Pakistan International Airlines (PIA) for the government can’t provide Rs 40 billion subsidy every year, ARY News reported.

Speaking at a ceremony here, the minister clarified that the steel mills and all power distribution companies will also be handed over to private sector.

He said that the decision to privatize PIA was made in 2011 and the incumbent government did not make this choice.

Dastagir said privatizing the national flag carrier has become inevitable as the government is unable to provide Rs 40 billion every year to overcome PIA deficit.

Moreover, he said that to boost trade the government is intended to soon build expo centers in Quetta, Multan, Peshawar and Faisalabad.

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