The Privatisation Commission Thursday discussed the caretaker government’s strategic agenda for privatization, specifically privatizing Pakistan International Airlines (PIA) and other SOEs to optimize the distribution companies (DISCOs) performance.
On Thursday, a meeting occurred between Federal Minister for Privatisation Fawad Hasan Fawad and Najy Benhassine, the country head of the World Bank.
This concerted effort aims to rectify substantial financial losses incurred by these entities, thereby alleviating the fiscal burden on the government.
The minister said that the federal government and all institutional stakeholders have unanimously agreed to privatise major loss-making state-owned enterprises (SOEs) already on the privatization list.
These SOEs are responsible for a substantial financial drain on government resources.
The PIA has emerged as the foremost priority for privatization due to its persistent and staggering financial losses, amounting to billions of rupees annually.
Privatizing PIA is imperative to remove these losses and improve operational efficiency.
Minister Fawad Hasan Fawad explained the outlines of the PIA’s privatization plan, expressing the government’s intention to engage the World Bank and other financial institutions in the initial phases of this effort.
