The Federal Cabinet, chaired by Prime Minister Shehbaz Sharif, has accelerated efforts to privatise Pakistan International Airlines (PIA) by scheduling the bidding process for the first week of August. This decision underscores the government’s commitment to addressing fiscal challenges and attracting essential funds for the economy.
Emphasizing transparency, PM Shehbaz directed officials to expedite the privatisation process, which involves inviting bids from interested companies. The move, supported by the IMF, aims to reform the loss-making airline by offering a stake ranging from 51% to 100%.
Six companies/consortiums have already been pre-qualified for the bidding, including Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol Consortium, and YB Holdings Consortium. Their interest underscores the potential for revitalizing PIA under private management.
In other developments, the government affirmed its commitment to maintaining accessibility to renewable solar energy by avoiding new tariffs on solar panels. Additionally, the Federal Cabinet approved a controlled export of sugar, ensuring adequate domestic supply and stabilizing prices.
PM Shehbaz Sharif’s proactive approach to economic reforms signals Pakistan’s resolve to navigate financial challenges while pursuing strategic partnerships for sustainable growth.
This summary encapsulates the key points from the article, focusing on the government’s actions regarding PIA’s privatisation and related economic policies.
