The National Assembly session on Monday, Federal Minister for Defence, Khawaja Asif, announced that the privatization process of Pakistan International Airlines (PIA) would be completed by the end of October 2024. Asif, who also holds the additional portfolios of Defence Production and Aviation, highlighted that PIA had accumulated a total loan of Rs800 billion, which has made its commercial flights between Hyderabad and Karachi unfeasible.
Responding to a question from Khawaja Izharul Hasan regarding flight services, Asif stated that if any private airline expresses interest in starting operations between the two cities, the government would grant them permission. The privatization of PIA, a long-standing issue, is part of the broader effort to reduce the financial burden on the national carrier and ensure its viability in the competitive aviation sector.
In a written reply to a question, Minister for Economic Affairs, Ahad Khan Cheema, provided an overview of foreign loans acquired by the government between July 1, 2018, and June 30, 2023. According to Cheema, the government secured $57.272 billion in foreign loans (excluding IMF loans) during this five-year period. Of this amount, $9.819 billion was allocated specifically for project financing.
Cheema further explained that the government paid a total of $3.904 billion in interest or mark-up on these loans, with $889 million of that amount paid as mark-up against project loans. Regarding domestic loans, Cheema clarified that these were obtained primarily through auctions of government securities or via the Central Directorate of National Savings. He noted that domestic loans are mainly used for deficit financing and maintaining cash buffers, and not for project-specific funding.
Federal Minister for Education and Professional Training, Dr. Khalid Maqbool Siddiqui, provided an update on the “Pink Bus” initiative aimed at supporting female students, working women, and teachers in Islamabad. This program offers free pick-and-drop services to women to reduce dropout rates among female students and provide safe transportation options for women in the federal capital.
Siddiqui shared that 20 Pink Buses have been allocated for this purpose, and there are currently 311 operational buses in Islamabad providing transportation services to students. The introduction of the Pink Buses is seen as an important step toward empowering women and ensuring they have access to education and employment opportunities without facing transportation barriers.
Minister for Commerce, Jam Kamal Khan, announced positive news regarding Pakistan’s fruit export sector. The total export value of fruits increased from $280 million in fiscal year 2022-2023 to $333 million in fiscal year 2023-2024, marking a notable 18.9% growth. Khan emphasized the success of Pakistan’s mango promotion campaigns, which have been instrumental in driving this increase.
In addition to regular mango promotion events, the Trade Development Authority of Pakistan (TDAP) organized business-to-business (B2B) sessions between foreign buyers and local producers to promote mango exports. These sessions, along with various mango tasting events and festivals, have played a key role in strengthening trade relations and boosting export figures.
Khan also mentioned the second International Food and Agriculture Exhibition held in Karachi from August 9-11, 2024, where around 120 international delegates from the fruit and vegetable sector participated. The event facilitated valuable interactions between local companies and international buyers, helping to further enhance Pakistan’s position in the global fruit market.
Minister for Finance and Revenue, Muhammad Aurangzeb, provided details on the significant amount of advance tax collected from mobile phone usage over the past two years. In a written reply to the National Assembly, Aurangzeb revealed that Rs172 billion was collected in advance taxes during 2023 and 2024. Of this total, Rs80 billion was collected in 2023, while Rs92 billion was collected in 2024.
This substantial tax collection reflects the growing role of mobile phones in Pakistan’s economy and the increasing reliance on digital communications and services. The government’s focus on advance tax collection from mobile phone usage underscores the importance of this sector in generating revenue.
