Mohsin Siddiqui (Chief Reporter)
Finance Minister Muhammad Aurangzeb has revealed that the privatization process of Pakistan International Airlines (PIA) is set to conclude by the end of June or early July, with Islamabad airport potentially undergoing privatization shortly after.
Speaking at a news briefing on Saturday afternoon, Minister Aurangzeb emphasized the government’s commitment to divest from state-owned enterprises (SOEs), stating, “The government has no business being in business.” He outlined the timeline for the privatization of PIA, expecting bids to be received within the next two to three weeks. By the designated timeline, PIA could transition to new investors by the end of June or early July. Furthermore, he announced plans for Islamabad airport to be the next candidate for privatization, followed by airports in Karachi and Lahore.
Regarding inquiries about Pakistan potentially selling its skies to bidders, Minister Aurangzeb did not provide a direct response.
The minister’s visit to Washington concluded with a series of 62 meetings, where decisions were explained, pledges made, and understanding sought with multilateral and bilateral donors. Attending the spring meetings of the International Monetary Fund (IMF) and the World Bank, Minister Aurangzeb engaged in bilateral discussions with finance ministers, heads of financial institutions, and senior US officials.
Addressing concerns about his meeting with US Assistant Secretary of State Donald Lu, which attracted significant attention in Pakistan amidst accusations of government destabilization, Minister Aurangzeb clarified that visitors do not dictate whom they meet, but rather, it is the hosts who decide.
Reiterating Pakistan’s economic strategy, Minister Aurangzeb emphasized three key pillars: expanding the tax net, implementing energy reforms, and privatizing SOEs. He acknowledged the existing gap between policy formulation and implementation, highlighting challenges such as prolonged litigation in tribunals.
To address these issues, the government is expediting measures to expand the tax net and identify individuals living beyond their means. Additionally, efforts are underway to improve energy provision and curb electricity theft through privatization and distribution reforms.
Minister Aurangzeb concluded by affirming the government’s commitment to implementing its economic plans, stressing the importance of aligning policies with effective implementation strategies for sustainable economic growth.
