Finance Minister Muhammad Aurangzeb has reiterated the government’s dedication to privatizing Pakistan International Airlines (PIA) and three power distribution companies (Discos) by the end of 2024.
In a recent interview with a private channel, Aurangzeb confirmed that the current administration aims to finalize the privatization of both the national airline and the three Discos before the year concludes. The deadline for PIA’s privatization, initially set for October 1, has now been extended to October 31 due to low interest from bidders, ongoing legal issues, an aging fleet, and concerns within civil aviation.
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He also mentioned that the government is focused on privatizing struggling units and implementing power sector reforms, emphasizing that necessary steps have been taken to meet these goals. Aurangzeb indicated that the outsourcing of Islamabad and Karachi airports will occur in phases and that adjustments and restructuring of certain ministries and departments will be undertaken before the next fiscal year.
In response to inquiries about the challenges faced by Independent Power Producers, he stated that discussions are ongoing with Chinese authorities regarding debt restructuring, as well as projects related to the China-Pakistan Economic Corridor. He affirmed that comprehensive measures are being implemented to strengthen Pakistan’s economic sector.
