We can’t sell PIA for cheap, clarifies Privatization Minister Abdul Aleem Khan.
Federal Minister for Privatization Abdul Aleem Khan has clarified that Pakistan International Airlines (PIA) will not be sold at a cheap price despite its financial issues.
He said that it was necessary to sell the airline but it must be sold at a reasonable price as determined by the Privatization Commission.
He further said he should not be blamed for the fall of PIA and it wasn’t his task to revive its glory.
Also read: Why has PIA banned photos, videography during flights?
The minister recalled PIA’s debt which stood at Rs. 830 billion of which Rs. 600 billion was shifted to a holding company and Rs. 200 billion kept on PIA’s books.
He tried to explain that these arrangements were established before he assumed office and that his role does not include restructuring the airline or diverting from the predetermined framework.
He also welcomed Khyber Pakhtunkhwa, Punjab, and Sindh to buy PIA if they meet the valuation criteria.
The minister briefly addressed other privatization plans like privatizing nine power distribution companies (DISCOs).
Also read: Here’s a list of 10 companies interested in buying PIA
In the transportation sector, he projected a revenue increase for the National Highway Authority (NHA) from Rs. 64 billion to Rs. 110 billion this year, with a target of Rs. 500 billion in five years.
Aleem Khan further mentioned recent efforts to improve fiscal responsibility which include the termination of 3,500 jobs in Pakistan Post.
He said this decision saved Rs 2.8 billion in expenditure.
Abdul Aleem Khan is a Pakistani politician and businessman from Lahore.
Abdul Aleem Khan currently serves as a member of the National Assembly after being elected from Constituency NA 117, Shahdara Lahore in the general elections held on 8 February 2024.
Abdul Aleem Khan owns PEMRA Samaa TV and Vision Group.
