PIA: PM Kakar directs to speed up privatisation

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed authorities concerned to expedite the privatization process of Pakistan International Airlines (PIA) and other loss-making state-owned enterprises.

The prime minister issued these directives while chairing a high-level meeting in Islamabad.

The meeting was informed about the financial position of PIA and progress of the privatization process. It was also informed that all obstacles in the privatization of PIA had been removed.

In the meeting, the prime minister also stressed transparency in the whole privatization process.

The process of privatization of the national airline should be made transparent and fast-tracked so that the national exchequer is protected from further losses, he added.

“It is no longer possible to meet the deficit of these institutions from public taxes,” the PM continued.

The premier noted that the aviation sector’s reforms would help provide better travelling facilities to the people.

In an effort to bring transparency, the financial affairs of Pakistan International Airlines (PIA) are likely to be handed over to the Privatisation Commission, it emerged earlier.

Sources told ARY News that the PIA’s financial affairs will be handed over to Privatisation Commission as the latter would take measures to reduce its losses.

Sources further claimed that the commission will link the national carrier’s financial affairs with latest system. By improving PIA’s financial affairs, the commission will improve its balance sheet – which will help in carrier’s privatisation.

Meanwhile, sources added that the administrative control of the institution will continue to be with the PIA’s management. Moreover, the administrative affairs will remain under the Ministry of Aviation.

Sources also claimed that that the matters of PIA’s regulation will remain with civil aviation. The Privatisation Commission wants to make institution’s accounts transparent by December 31.