Federal Minister Abdul Aleem Khan defends PIA privatization process
The minister provides detailed account of the national airline’s financial status
Watts News Desk PAkistan
Aleem Khan to represent Pakistan in international conference in Tajikistan: (Courtesy: Online)
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Federal Minister for Investment Board, Communications, and Privatization Abdul Aleem Khan addressed a press conference shedding light on the privatization process of Pakistan International Airlines (PIA).
The minister provided a detailed account of the national airline’s financial status, clarifying that his primary objective is to alleviate the burden on the government by privatizing PIA, which has accumulated losses of Rs830 billion.
Abdul Aleem Khan explained that he oversees three departments under his ministry, including privatization, and reiterated that the PIA privatization framework was set by the caretaker government, limiting his ability to modify the process.
He noted that Rs600 billion is parked in Holdcom while Rs200 billion remains tied to PIA.
“I took office in March, inheriting the airline’s massive debt. My role is not to operate or fix PIA, but to reduce the government's losses by facilitating its privatization,” said Khan.
He dismissed suggestions from critics, remarking, "Some claim they can manage businesses well, yet they were unable to save PIA."
Addressing calls to prioritize the nation’s assets, Khan asserted, “This is not my business; it is the nation’s asset. I will not compromise on the privatization law or sell the airline at any price.”
Khan also pointed out that more than 25 ministers have previously attempted to tackle PIA’s longstanding issues, stating that he is committed to taking responsibility if any errors arise in the sale process.
However, he emphasized that it is ultimately time to take decisive action to reduce the government's fiscal losses.
Abdul Aleem Khan
Federal Minister for Investment Board, Communications, and Privatization Abdul Aleem Khan addressed a press conference shedding light on the privatization process of Pakistan International Airlines (PIA).
The minister provided a detailed account of the national airline’s financial status, clarifying that his primary objective is to alleviate the burden on the government by privatizing PIA, which has accumulated losses of Rs830 billion.
Abdul Aleem Khan explained that he oversees three departments under his ministry, including privatization, and reiterated that the PIA privatization framework was set by the caretaker government, limiting his ability to modify the process.
He noted that Rs600 billion is parked in Holdcom while Rs200 billion remains tied to PIA.
“I took office in March, inheriting the airline’s massive debt. My role is not to operate or fix PIA, but to reduce the government's losses by facilitating its privatization,” said Khan.
He dismissed suggestions from critics, remarking, "Some claim they can manage businesses well, yet they were unable to save PIA."
Addressing calls to prioritize the nation’s assets, Khan asserted, “This is not my business; it is the nation’s asset. I will not compromise on the privatization law or sell the airline at any price.”
Khan also pointed out that more than 25 ministers have previously attempted to tackle PIA’s longstanding issues, stating that he is committed to taking responsibility if any errors arise in the sale process.
However, he emphasized that it is ultimately time to take decisive action to reduce the government's fiscal losses.
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Sunday, November 03, 2024
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