The federal government has decided to devise a plan regarding the much talked about privatisation of multiple organisations. As per the sources, government would form a strategy to privatise Pakistan International Airlines (PIA). News sources indicate that the Ministry of Finance has started working on the appointment of a financial adviser for PIA privatisation.
The overall planning includes how to combat the significant debt issues and arrange government guarantees to attract potential investors and restore the former glory of airlines. Note that the privatisation process does not include PIA affiliates.
In addition to that, some power distribution companies would also be privatised. Regarding the privatisation of power distribution companies, the government aimed to bring in $10-$11 billion in budget support before June.
Furthermore, the government is also looking into the revival of the Pakistan Steel Mills (PSM). Negotiations are underway between the government and investors for the resurrection of Pakistan Steel Mills, which has been struggling for several years.
The privatisation option for steel mills was dropped because the overall situation of Pakistan did allow to privatise the state entity. The government is looking to find ways to attract investors so that the steel mill production & capacity can increase.
