PIA privatization in final stage, Federal government takes the decision

PIA privatization in final stage, Federal government takes the decision

On Thursday, Caretaker Prime Minister Anwaar ul Haq Kakar issued a directive to Minister for Privatization Fawad Hasan Fawad, tasking him with the responsibility of overseeing the expeditious privatization process of Pakistan International Airlines (PIA). The directive, delivered during a meeting focused on PIA-related matters, emphasized the urgency of completing this process on a fast-track basis.

Prime Minister Kakar stressed the need to enhance PIA's efficiency, making it a reliable service provider and elevating its standards to align with global airline norms. He urged all relevant stakeholders to swiftly address issues pertaining to privatization.

During the meeting, the prime minister received a comprehensive briefing on the progress of PIA's privatization process and extended a warm welcome to the newly appointed Caretaker Minister for Privatization, Fawad Hasan Fawad, as part of his team.

Notably, PIA has been facing significant financial challenges, prompting concerns regarding its ability to sustain its air operations while grappling with mounting debts. This situation has raised alarms about the need for a speedy resolution and a path forward for the national flag carrier.

Adding to the complexity of PIA's financial woes, it was revealed on Wednesday that the bank accounts of the airline had been unblocked following a settlement between PIA and the Federal Board of Revenue (FBR) concerning outstanding dues.

This development underscores the critical importance of addressing the airline's financial challenges and streamlining its operations through the ongoing privatization efforts led by Minister Fawad Hasan Fawad under the guidance of Caretaker Prime Minister Kakar