ISLAMABAD: The federal cabinet has approved the formation of Pakistan International Airlines Holding Company which it said is a major step towards the privatisation of Pakistan International Airlines (PIA).

The meeting of the federal cabinet presided over by Prime Minister Shehbaz Sharif on Wednesday was briefed by Finance Minister Muhammad Aurangzeb on the Staff-Level Agreement (SLA) with the International Monetary Fund (IMF).

He said that the agreement with the IMF will improve the country’s economy and further increase investor confidence. He informed the meeting that an initial discussion has been held with the IMF regarding the new long-term programme.

Minister, FAs discuss PIACL privatization

The federal cabinet has also decided that the chief executive officer of PIA Company Limited would continue as CEO of the holding-co for the time being.

The prime minister directed to expedite the process of PIA’s privatisation as well as to ensure transparency in the process.

The premier also directed to form a committee with respect to outsourcing of the airports which would persuade the best relevant investors around the world to invest in Pakistan’s aviation sector. The prime minister and cabinet members have voluntarily decided not to take salaries and benefits to promote austerity at government level.

On the recommendation of the Commerce Ministry, the federal cabinet has approved the formation of a committee that would determine exemptions of restrictions regarding imports and exports.

The federal minister for commerce would be the convener of the committee that would determine exemption under Section 21 of the Trade Organizations Act, 2013, and will also hear appeals in this regard.

On the recommendation of the Ministry of Interior, the federal cabinet has granted approval for sending recommendations of the Federal Commission established on the order of the Islamabad High Court (IHC) regarding the arrest/ detention of Dr Shireen Mazari, a former member of the National Assembly to the relevant federal and provincial authorities.

On the proposal of the Ministry of Law and Justice and the recommendation of the Sindh High Court, Karachi, the federal cabinet has approved the return of the services of District and Sessions Judge Ghulam Shah, who was working on deputation in Banking Court II, Hyderabad, to his department.

Federal Minister for Law and Justice Azam Nazeer Tarar informed the meeting that FBR cases worth more than Rs2,400 billion are pending in courts and tribunals. He said that a digital system is being launched in this regard, which will speed up the resolution of pending cases.

The meeting of the federal cabinet also paid homage to the martyrs of the Mir Ali terrorist attack and offered Fateha for them.

Talking to participants, the prime minister said that the new government would come up to the expectations of the people. He said that the entire nation salutes the martyrs of the Mir Ali terror attack. The cabinet vowed to root out terrorism from the country.

Copyright Business Recorder, 2024