‘PIA’s ‘white elephant’ costs national kitty Rs830bn: Aleem Khan’

Welcome to our blog! Today’s update comes from Lahore, where Privatisation Minister Abdul Aleem Khan criticized Pakistan International Airlines (PIA) as a “white elephant” that has cost the national exchequer Rs830 billion. Despite this loss, he assured that the process of privatizing PIA is moving forward smoothly with interest from private firms.

Khan highlighted that six Pakistani companies with joint ventures from Malaysia, Turkiye, and the UAE are interested in the privatization of PIA. He mentioned Oct 1 as a crucial date for completing the process and providing Pakistanis with an international standard airline.

Commerce Minister Jam Kamal, at the same event, addressed concerns regarding security and economic opportunities. He emphasized the government’s efforts to manage energy prices and promote commercial activities. Kamal also debunked the perception that an uncertain security situation is deterring investors, citing international participation in recent expos as evidence of improving conditions.

Overall, both ministers emphasized the importance of seizing business opportunities and improving connections with global brands for economic growth. Stay tuned for more updates on Pakistan’s business landscape!

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