Islamabad : A pressing alarm has been sounded by the Standing Committee on Privatization, chaired by Muhammad Farooq Sattar, MNA, as the delay in privatizing Pakistan International Airline Company (PIAC) has sent its losses soaring from Rs. 200 billion in 2015 to a staggering Rs. 800 billion in 2024.
The Committee has urged the government to expedite the privatization process in a transparent manner, ensuring the rights of employees are safeguarded. Minister for Privatization has assured protection for the workers.
During the 2nd meeting of the Standing Committee, the Secretary of the Ministry of Privatization presented a briefing on the ministry’s performance. The Committee has requested a detailed working paper on entities privatized over the last decade.
In a significant move, the Committee has unanimously recommended approval of “The Privatization Commission (Amendment Bill, 2023”.
Prominent MNAs, including Anwar-ul-Haq Chaudhary, Ch. Mahmood Bashir Virk, and Abdul Qadir Khan, attended the meeting, along with Minister for Privatization and officials from the Ministry and PIAC.
