Pakistan’s Privatisation Minister, Fawad Hassan Fawad, has reiterated the government’s strong commitment to privatizing major loss-making state-owned enterprises, including Pakistan International Airlines (PIA).
The objective is to enhance efficiency, prevent a significant financial drain, and attract private investment. During a meeting with World Bank Resident Director Najy Benhassine, Minister Fawad discussed the privatization agenda, focusing on divesting PIA and optimizing the performance of ex-Wapda distribution companies (Discos).
Minister Fawad outlined the plan for selling off PIA, expressing the government’s intention to involve the World Bank and other financial institutions in the initial phases of this effort. He emphasized the desire to create a comprehensive model for PIA, with the World Bank as a potential key partner for future support.
A single-agenda meeting of the board of the Privatisation Commission will discuss the privatization of PIA. PIA’s ongoing substantial financial losses make privatization a top priority to improve operational efficiency and remove these losses.
The overarching goal is to attract much-needed private investment through privatization, freeing up government funds for deployment in crucial sectors. The government is committed to streamlining state-owned enterprises to ensure their sustainability and benefit the economy.
