Minister announces new date for PIA privatisation

Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to privatising Pakistan International Airlines (PIA) and three power distribution companies (Discos) before the end of 2024.

In a recent interview with a private channel, Aurangzeb said that the incumbent government will complete the privatisation of the national carrier along with three power distribution companies (Discos) before 2024 culminates.

The privatization of PIA, initially set to conclude by October 1, has been postponed to October 31 due to low bidder interest, ongoing court cases, aging fleet issues, and civil aviation concerns.

He further said that government is working on privatization of sick units, and power sector reforms and for this, all necessary steps have been taken to achieve the objectives.

The outsourcing of Islamabad and Karachi airport would be made in phases, he added. Right sizing and restructuring of some ministries and departments would also be made before the next fiscal year, he stated.

In reply to a question about issues of Independent Power Producers, he said discussion was being made with Chinese authorities regarding re-profiling of debt besides China Pakistan Economic Corridor projects.

All out measures are being taken to strengthen the economic sector of Pakistan, he added.