Privatisation Minister Abdul Aleem Khan has strongly criticised Pakistan International Airlines (PIA), labelling it a “white elephant” and revealing that the national carrier has so far incurred a staggering loss of Rs830 billion to the national exchequer. Speaking at a footwear exhibition in Lahore on Sunday, Khan emphasised that PIA remains a significant financial burden on the government but assured that the privatisation process is moving forward smoothly.
“Private firms are taking interest in the privatisation of PIA,” Khan stated, noting that six Pakistani companies have already formed joint ventures with international firms from Malaysia, Turkiye, and the UAE, showing promising prospects for the airline’s future. He hinted that October 1 could be a pivotal date in the privatisation timeline, promising that once completed, Pakistanis would have access to an airline that meets international standards.
Khan also lauded the Pakistan Footwear Association for forging strong ties with global brands, suggesting that increasing the number of trade officers in foreign missions would bolster business-to-business connections internationally. He urged the business community to capitalise on emerging opportunities, particularly as manufacturers are relocating from China to other countries like Taiwan and Bangladesh.
Energy and security concerns
Commerce Minister Jam Kamal, who also spoke at the event, addressed the ongoing challenges posed by energy prices, acknowledging that managing these costs is a critical concern for the government. He assured attendees that the administration is actively working to resolve the energy crisis, which he identified as crucial for promoting commercial activities in the country.
Kamal also tackled issues related to the Federal Board of Revenue (FBR) and the overall ease of doing business in Pakistan. He countered the narrative that Pakistan’s security situation is deterring foreign investment, citing his recent experience at a food and agriculture expo in Karachi where over 800 delegates from 75 countries, including a substantial Chinese delegation, participated. “If the situation in Pakistan were as bad as some media portray, why would so many international delegates attend an expo here?” Kamal asked, underscoring the improving security environment in the country.
He further dismissed exaggerated reports about security concerns in Balochistan, pointing out that a $70 billion investment pledge for the region by international investors would not have been made if the situation were as dire as depicted.
