Finance Minister Muhammad Aurangzeb has announced that the government aims to privatise Pakistan International Airlines (PIA) before the end of 2024. This statement follows a recent postponement of the airline’s privatisation deadline from October 1 to October 31, which was attributed to various challenges, including low interest from bidders and legal issues.
Aurangzeb emphasised the need to privatise not only PIA but also three power distribution companies (Discos) as part of broader efforts to address the country’s economic challenges. He noted that the government is actively pursuing the privatisation of multiple state-owned enterprises under a rightsizing policy.
In addition to PIA, the government has identified other entities for potential privatisation, including the Pakistan Stone Development Company and the Pakistan Automobile Corporation. Aurangzeb also discussed plans for outsourcing operations at Islamabad and Karachi airports in phases.
The finance minister’s remarks reflect a strategic approach to reforming the economic sector, focussing on the privatisation of underperforming units and restructuring ministries to enhance efficiency.
