Federal Minister for Privatisation Abdul Aleem Khan emphasized that top Minister Shahbaz Sharif is giving huge interest to the re-privatization of PIA, believing that the airline has the capacity to grow to be worthwhile with formidable decisions to facilitate privatization.
The committee become briefed about PIA’s dire financial state of affairs, with cumulative losses amounting to Rs830 billion. Of this, Rs623 billion has been transferred to a keeping business enterprise, leaving PIA with Rs200 billion in liabilities. Khan careworn that notwithstanding those challenges, privatization is essential to reviving the airline.
He drew comparisons to Air India’s privatization, which had faced more than one failed attempts earlier than ultimately succeeding, suggesting that PIA should in addition be revived thru strategic reforms and help to attract credible traders.
The Secretary of the Privatisation fee delivered that lots of the groundwork from the preliminary privatization try had already been completed, meaning the re-bidding procedure can be expedited. however, the committee stated that preceding limitations—such as investor demands for tax waivers and the Federal Board of sales’s (FBR) failure to dispose of GST on new aircraft procurement—had hindered development. Khan criticized the imposition of such taxes, arguing that they undermine PIA’s competitiveness within the global aviation marketplace.
in spite of its financial difficulties, Khan talked about that PIA holds precious belongings, such as worthwhile routes, that can make it an attractive investment opportunity if the privatization manner is well achieved.
