During a meeting focused on matters related to Pakistan International Airlines (PIA), Prime Minister Kakar emphasized the need for expediting the privatization process. The objective is to provide reliable service to users and elevate the national flag carrier’s standards to match global aviation benchmarks.
The Prime Minister directed all stakeholders to swiftly find solutions to issues pertaining to privatization.
During the meeting, the progress of PIA’s privatization process was presented to the Prime Minister. The newly appointed caretaker privatization minister, Fawad Hasan Fawad, was also welcomed to the team.
Challenges Faced by PIA
It is important to note that Pakistan International Airlines (PIA) is currently grappling with a severe financial crisis, raising concerns about its ability to sustain air operations due to mounting debts.
On Wednesday, it was reported that the bank accounts of PIA were unblocked after settling matters regarding non-payment of dues with the Federal Board of Revenue (FBR).
Following a written assurance and commitment from PIA to clear all pending dues, the tax collection body unblocked the bank accounts. As part of the agreement, PIA will pay Rs2.5 billion this month.
The previous administration under Prime Minister Shehbaz Sharif expressed the intention to privatize the airline. The caretaker government has now instructed relevant authorities to finalize the restructuring plan.