Amid incumbent authorities’s strenuous efforts to deal with multi-prong challenges confronted by the nation on the financial entrance, Finance Minister Muhammad Aurangzeb has assured the privatisation of Pakistan Worldwide Airways (PIA) earlier than the tip of 2024.
Aurangzeb, whereas talking to a personal channel, stated that the incumbent authorities will see to the privatisation of the nationwide service together with three energy distribution corporations (Discos) earlier than 2024 culminates.
The assertion comes as PIA’s privatisation, beforehand prolonged until October 1, was “postponed” till October 31 with sources linking the deferment to low bidder curiosity, courtroom instances, fleet ageing and civil aviation points.
Final week, the sources instructed The Information that the federal government intends to privatise extra state-owned enterprises (SOEs) underneath the rightsizing coverage with PM Shehbaz directing the Ministry of Privatisation and Ministry of Industries and Manufacturing to implement the plan.
They added that Pakistan Stone Growth Firm and Pakistan Vehicle Company had been marked for privatisation marked for privatisation.
Additionally, proposals had been finalised for the privatisation of Pakistan Institute of Administration, Khadi Crafts Growth Firm, Agro Meals Processing Amenities, Leather-based Crafts Growth Firm, Morafco Industries, Southern Punjab Embroidery Business and Gujranwala Enterprise Centre.
It’s to be famous that the finance minister chairs a high-powered Proper-Sizing Committee constituted by the prime minister.
Elaborating on the privatisation course of, Aurangzeb stated that the outsourcing of Islamabad and Karachi airports can be made in phases.
He stated that rightsizing and restructuring of some ministries and departments would even be accomplished earlier than the following fiscal yr.
Addressing the problems within the energy sector, the minister stated dialogue was being made with Chinese language authorities relating to the re-profiling of debt in addition to China Pakistan Financial Hall (CPEC) tasks.
Noting that the federal government was engaged on privatisation of sick models, energy sector reforms, and all needed have been taken to attain the aims.
All out measures are being taken to strengthen the financial sector of the nation, he remarked.
