PM Kakar demands timely updates on PIA privatisation

WEB DESK: In a significant development, Caretaker Prime Minister Anwaar-ul-Haq Kakar took decisive action on Monday, instructing the relevant authorities to expedite the privatisation process of Pakistan International Airlines (PIA).

During a comprehensive review meeting addressing the cash-strapped state of PIA, the PM stressed the urgency of finalising the privatisation within the designated timeframe.

نگران وزیر اعظم انوار الحق کاکڑ کی زیرِ صدارت پاکستان انٹر نیشنل ایئر لائنز (PIA) کے امور کا جائزہ اجلاس.

اجلاس میں پی آئی اے کی نجکاری کے عمل کی پیش رفت کا تفصیلی طور پر جائزہ لیا گیا. اجلاس کو پی آئی اے کی موجودہ مالی صورتحال سے بھی آگاہ کیا گیا.

اجلاس کی صدارت کرتے ہوئے… pic.twitter.com/jlYcBh6b1x

— Prime Minister's Office (@PakPMO) October 23, 2023

During the meeting, attendees received a comprehensive briefing detailing the current financial state of the national flag carrier and the progress of its privatisation journey.

PM Kakar, underscoring the critical nature of this initiative, affirmed that the government stands ready to extend all possible support to PIA until the privatisation process reaches its completion.

Furthermore, PM Kakar underscored the necessity of regular compliance reports, underscoring the importance of transparency and accountability throughout the privatisation process.

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He asserted that expediting the privatisation of loss-making state-owned enterprises (SOEs) is paramount to safeguarding the national exchequer from further financial strains.

This meeting comes at a crucial juncture for PIA, which has been grappling with persistent financial challenges and operational disruptions.

The airline’s predicament was highlighted recently as it was compelled to cancel multiple flights due to an inability to secure adequate fuel, underscoring the pressing need for swift and effective reforms in the national flag carrier.