ISLAMABAD: Federal Minister for Privatisation, Abdul Aleem Khan has announced that the government extended the submission of expression of interest (EoI) for Pakistan International Airlines (PIA) for 15 days (May 3 to May 18) following 10 local and international companies have shown interest in the privatisation of the PIA.

Khan, however, said there will be no further extension in submitting of EOI for PIA.

The federal minister revealed that three local airlines were also among potential parties and wanted to form a consortium with international companies for PIA’s privatisation.

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He stated that those who caused Rs830 billion in losses to PIA are unable to see the benefit of privatisation. “Privatisation of all loss-making institutions is a priority,” Khan said.

He further mentioned that Steel Mills, the PIA, and Discos (distribution companies) have become burdens on the economy.

Khan emphasized the role of harmful institutions in halting Pakistan’s development.

“The combined share of all the airlines is less than that of PIA,” the privatisation minister stated.

The PIA has routes such as Jeddah, Medina, China, and Hong Kong. PIA operates direct flights to London, Washington, and Toronto. He said PIA will become profitable once new planes arrive.

The privatisation minister assured that the privatisation process of PIA will be 100 per cent transparent and open to the media.

The PIA employees are secure.

The privatisation minister assured that the PIA employees will not face any issues with the privatisation of the national carrier.

“Pakistan has the best pilots and crew in the world,” he added.

In response to a statement by PPP Chairman Bilawal Bhutto-Zardari opposing privatisation, Khan said that Bilawal and the PPP love Pakistan, and he will meet the PPP chairman to convince him.

Khan mentioned that the government will save billions by privatizing loss-making government institutions and suggested that this money could be spent on welfare projects.

“Losing Rs400 billion to Rs500 billion annually is unjust,” he emphasized.

The ministry stated that the government also aims to privatise six to seven Discos. The privatisation minister said that only three Discos of strategic importance want to remain under government control.

Minister for Privatization Abdul Aleem Khan announced that 10 prominent companies have expressed their interest in the privatisation of the national airline, PIA, and have requested a 15-day extension to submit their applications. Khan said a 15-day extension has been granted and clarified that there will be no further extension in submitting statements to PIA.

“The First Women Bank, HBFC, and electricity companies also seek privatization,” the privatization minister concluded.

Copyright Business Recorder, 2024