On Thursday, Caretaker Prime Minister Anwaar ul Haq Kakar issued adirective to Minister for Privatization Fawad Hasan Fawad, tasking him withthe responsibility of overseeing the expeditious privatization process ofPakistan International Airlines (PIA). The directive, delivered during ameeting focused on PIA-related matters, emphasized the urgency ofcompleting this process on a fast-track basis.
Prime Minister Kakar stressed the need to enhance PIA’s efficiency, makingit a reliable service provider and elevating its standards to align withglobal airline norms. He urged all relevant stakeholders to swiftly addressissues pertaining to privatization.
During the meeting, the prime minister received a comprehensive briefing onthe progress of PIA’s privatization process and extended a warm welcome tothe newly appointed Caretaker Minister for Privatization, Fawad HasanFawad, as part of his team.
Notably, PIA has been facing significant financial challenges, promptingconcerns regarding its ability to sustain its air operations whilegrappling with mounting debts. This situation has raised alarms about theneed for a speedy resolution and a path forward for the national flagcarrier.
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Adding to the complexity of PIA’s financial woes, it was revealed onWednesday that the bank accounts of the airline had been unblockedfollowing a settlement between PIA and the Federal Board of Revenue (FBR)concerning outstanding dues.
This development underscores the critical importance of addressing theairline’s financial challenges and streamlining its operations through theongoing privatization efforts led by Minister Fawad Hasan Fawad under theguidance of Caretaker Prime Minister Kakar
