Can’t Sell PIA for Cheap: Privatization Minister

Federal Minister for Privatisation Abdul Aleem Khan said Pakistan International Airlines (PIA) will not be sold for cheap despite its financial complexities. He said while the airline’s sale was necessary, it must be sold at a respectable price as determined by the Privatisation Commission. He also said it wasn’t his fault that PIA was in the condition that it is currently today and it wasn’t his job to put it back on track. The minister recalled PIA’s debt which stood at Rs. 830 billion of which Rs. 600 billion was shifted to a holding company and Rs. 200 billion kept on PIA’s books. He tried to explain that these arrangements were established before he assumed office and that his role does not include restructuring the airline or diverting from the predetermined framework. He also welcomed Khyber Pakhtunkhwa, Punjab, and Sindh to buy PIA if they meet the valuation criteria. The minister briefly addressed other privatization plans like privatizing nine power distribution companies (DISCOs). In the transportation sector, he projected a revenue increase for the National Highway Authority (NHA) from Rs. 64 billion to Rs. 110 billion this year, with a target of Rs. 500 billion in five years. Aleem Khan further mentioned recent efforts to improve fiscal responsibility which include the termination of 3,500 jobs in Pakistan Post. He said this decision saved Rs 2.8 billion in expenditure.