LAHORE: Federal Minister for Privatisation Abdul Aleem Khan has said he had responsibility of selling Pakistan International Airlines (PIA) and the best solution would be made in this regard.
Talking to media here on Sunday, he said that a framework had been made for privatisation of the PIA by the caretaker government. He said that the PIA had a debt of Rs 830 billion, adding that out of that debt, around Rs. 600 billion had been parked in Holdco Company, while Rs. 200 billion had been parked in the PIA. He said all these things had happened before he took charge of his office, adding that he could not change the process which had already been initiated.
Aleem said he had no power to change the framework of privatisation. He said there was procedure of privatisation under which he could privatise anything. He said he had a responsibility of selling PIA, and not to put it on the right track. He said that he was not responsible for the present condition of PIA and added that he could not deviate from privatisation procedure given to him. A former privatisation minister was also giving him suggestions, he said and added that he should have implemented those suggestions during his tenure as the minister. He said that the PIA was a national asset and could not be sold at throw-away price.
Abdul Aleem Khan said that on the PIA bidding day, he was in Riyadh busy in a meeting with Saudi Arabia’s Investment minister. He said that on the day of PIA bidding two meetings were held; one of the privatisation commission, which he presided over, and he also attended the CCOP meeting on the same day.
He said, “We have no objection if Khyber Pakhtunkhwa, Punjab and Sindh governments together want to buy the PIA.” Professional management was vital to run PIA in effective manner, he said and added that revenue could be generated through the national airline if managed properly. The minister said: “The PIA has best timings for international routes.”
Regarding National Highway Authority, Aleem Khan said it was going to give a profit of Rs 50 billion in one year. He said that this year the NHA revenue would reach Rs 110 billion from Rs 64 billion. He said that no truck would be allowed on motorway or national highway carrying more than allowed weight.
He said the PIA privatisation matter would be carried forward in the best way and if a new framework would be required in this regard, it would be made. He said, “If the PIA was to be privatised on government-to-government basis, the matter would be looked into.”
Aleem said in present framework, there were limitations; but if new framework would be made, there was a possibility that the PIA would be privatised with zero liability and this might attract more buyers. Regarding Pakistan Post, the minister said that 3,500 jobs had been abolished and that helped save Rs 2.8 billion. To a question, he said that the number of memorandums of understanding with Saudi Arabia had increased to a 34-35 from the figure of 27. He said that implementation of some of the MoUs was under way currently.
He said that PIA is a national asset of all of us which can be made profitable even today with better policies and proper investment. He said the nation knows very well that every past government contributed indiscriminately to bring PIA to this stage.
He said that we have more options regarding the privatisation of PIA. He said the government can also take out the remaining 200 billion rupees liabilities of this Institution and give a “Clean PIA”.
Abdul Aleem Khan said that PIA’s privatisation process was transparent and everything happened in front of media cameras and was shown live. Instead of crying over the past or going into blame game we have to move forward and do better for this country, he said.
Replying to another question, Abdul Aleem Khan said that currently apart from PIA, the privatization of nine Discos is in the pipeline. As far as investment is concerned, the number of MoUs with Saudi Arabia alone has reached 34 and investment of 2.8 billion rupees has already been surfaced through which work has already been started and investors are coming from Russia and China.
Federal Minister said that as far his departments are concerned; the annual revenue in the Communication Sector will reach 500 billion in the next 5 years which would be a historic step. Like other countries, NHA must go outside Pakistan and get tenders as international firm to express its skills.
In response to another question, Aleem Khan said that strict policies have been introduced in NHA, there is no compromise on axle load, adding the safety of Motorways and National Highways is our first responsibility.
Abdul Aleem Khan pointed out that still PIA has potential, as 24 Crore people have only one Airline from which they can go to Europe and America through direct flights, and the Institution can be improved ultimately.
Copyright Business Recorder, 2024