Federal Minister for Finance, Muhammad Aurangzeb has said that the government is committed to privatize Pakistan International Airlines (PIA) and three power distribution companies (Discos) before the end of 2024. During a recent interview with a private channel, the minister said that the incumbent government will ensure the privatization of the national carrier along with three power distribution companies (Discos) before 2024 culminates. It should be mentioned here that 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.

Muhammad Aurangzeb further said that government was 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.

Credit: Independent News Pakistan