PIA privatisation to conclude by end of October

WEB DESK: Defence Minister Khawaja Asif announced that the privatisation of Pakistan International Airlines (PIA) will be finalised by the end of October 2024.

While addressing the National Assembly, he also discussed the closure of Hyderabad Airport, stating that running flights between Hyderabad and Karachi was not commercially viable for PIA. The airline currently faces a debt burden of Rs800 billion.

According to Business Recorder, Economic Affairs Minister Ahad Khan Cheema provided details on foreign loans obtained by the government between July 2018 and June 2023. Excluding International Monetary Fund (IMF) loans, the government borrowed a total of $57.27 billion, with $9.82 billion directed toward project financing.

Cheema further revealed that the government paid $3.90 billion in interest during this period, including $889 million on project loans. He explained that domestic loans, mainly raised through government securities and national savings schemes, are used for deficit financing, not project funding

Education Minister Dr Khalid Maqbool Siddiqui shared that 20 Pink Buses have been allocated to provide free transportation for female students, working women, and teachers in Islamabad.

The initiative aims to reduce dropout rates among female students by offering safe and accessible transport. Currently, 311 operational buses serve students across the federal capital.

Commerce Minister Jam Kamal Khan reported an 18.9 per cent increase in fruit exports, which rose from $280 million in 2022-2023 to $333 million in 2023-2024. Mango promotion campaigns, festivals, and business-to-business sessions with foreign buyers have played a significant role in this growth.

The minister also highlighted the success of the second International Food and Agriculture Exhibition in Karachi, which saw around 120 international delegates participate.

Finance Minister Muhammad Aurangzeb disclosed that Rs172 billion in advance tax was collected from mobile phone users over the past two years, with Rs92 billion collected in 2024 and Rs80 billion in 2023.

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