Caretaker Federal Minister for Finance, Revenue, Economic Affairs, and Privatization Dr. Shamshad Akhtar chaired the inaugural meeting of the Cabinet Committee on Privatization (CCoP) today, where members decided to form committees to fast-track privatization of Pakistan International Airlines (PIA) and Distribution companies (DISCOs)
Secretary Privatization Commission (PC) presented a detailed briefing on the status of the active privatization program for the reaffirmation by the newly constituted CCoP. The secretary updated the meeting on the issues related to the privatization of loss-making SOEs including Heavy Electrical Complex, Services International Hotel, Pakistan Steel Mills, HBFCL, Roosevelt Hotel, NY, PIA, RLNG Power Plants, 10 Discos, etc.
The Chair underscored the need to accelerate the process of privatization of loss-making SOEs to foster great efficiency, and productivity and enhance the overall revenue of the country. Regarding the privatization and restructuring of PIA, the CCoP decided to form a technical committee for resolutions of bottlenecks and directed the Aviation Ministry to work with the Privatization Commission to present a detailed action plan with a clear time framework in a sequence.
Similarly, the CCoP constituted a committee led by the caretaker Minister for Energy to present a viable plan with a timeline regarding private sector participation in the management of DISCOs. The Committee comprised the Secretary Privatization Commission, the Special Secretary of Finance, and members from NEPRA. The Committee shall submit its recommendations within the shortest possible time.
The meeting was attended by Sami Saeed, Minister for Planning, Development, and Special Initiatives, Shahid Ashraf Tarar, Minister for Communication, Maritime, and railways, Muhammad Ali, Minister for Power and petroleum, Dr. Waqar Masood, Advisor to the PM on Finance, Air Marshal (Rtd) Farhat Hussain Khan, Advisor to PM on Aviation, Governor SBP, Chairman SECP, Federal Secretaries and other senior officers of the relevant ministries.
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It will be a great service to the nation if PIA is privatised at priority
بھائ سلمان۔۔کیا آپ کو کوئی ذاتی تکلیف دی ہے پی آئی اے نے ؟آپ اندر کے حالات جانتے ہی نہیں، جانے کتنے ہی لوگوں کا روزگار اس سے وابستہ ہے،اس کی ضمانت دینےکو کوئی تیار نہیں، اور آپ نےمنہ کھول کردیا کہ نجکاری کر دی جاے
G janab, tamaam pakistaan ko zaati takleef di ha PIA ne aur inshallah tala nagraan hakumat ni to agli hakumat ma in haramkhoro ko PIA se dafa krna ha jo safarish pe bharti hui han. Jahan PIA ma amle ki zarurt 1500 logo ki ha agr to bharti 4500 kr k rakha hua ha ppp ki safarisho pe. Arbon ka jo nuksan de ri ha hakumat ko har saal hamare tax k paiso se iske loan utarne parte han, muje btao tmhre baao k nokar han ham jo un chand hazaar nalaek bghrto k liye hm tax se paise den? Mu utha k ajate ho idr tm kog PIA k thekedaar banne
PIA has become a white elephant and liability due to mismanagement, maladministration and corruption. A solution is required to make PIA profitable and to improve service standards. The employees should be engaged to find a way forward and offer ownership by offering them shares.