Government Set to Privatize PIA and Power Distribution Companies by 2024
Finance Minister Muhammad Aurangzeb has reiterated the government’s commitment to privatize Pakistan International Airlines (PIA) and three power distribution companies (Discos) by the end of 2024. In a recent interview, Aurangzeb mentioned that the privatization process of these entities will be completed before the deadline.
The privatization of PIA, initially scheduled for October 1, has been extended to October 31 due to various challenges. Aurangzeb emphasized that efforts are being made to address issues like low bidder interest, ongoing court cases, aging fleet concerns, and civil aviation issues.
Additionally, the government is focusing on privatizing sick units and implementing power sector reforms. The restructuring of ministries and departments, along with the outsourcing of Islamabad and Karachi airports in phases, is also on the agenda.
Aurangzeb mentioned discussions with Chinese authorities regarding debt re-profiling for Independent Power Producers and China Pakistan Economic Corridor projects. The government is dedicated to strengthening Pakistan’s economic sector through these measures.