Pakistan International Airlines To Get Privatised As Part Of The Country’s Wider Privatisation Initiative

Pakistan’s Prime Minister, Shehbaz Sharif, has taken a bold step towards reforming the country’s state-owned sector. He announced a wider privatisation initiative, extending beyond just loss-making enterprises, to encompass nearly all government-run businesses except strategically crucial ones.

Pakistan PM Sharif Pushes For Broader Privatisation

Sharif believes this move will not only save taxpayer money but also empower the government to deliver better quality services to its citizens.  He emphasizes that the government’s primary role lies in fostering a business-friendly environment, not in directly managing companies.

To ensure transparency and public trust in the process, Sharif has directed the live telecast of the privatisation procedures for Pakistan International Airlines (PIA), including bidding and other key stages. This unprecedented level of openness is intended to be a hallmark of the entire privatisation drive, with the process for other institutions also being broadcast live.

The government is prioritising the privatisation of loss-making entities, aiming for a swift completion of the pre-qualification process for PIA by the end of May. To expedite the overall programme, a panel of pre-qualified experts is being assembled within the Privatisation Commission.

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High-Level Backing And Transparency

The PM’s Coordinator Rana Ehsan Afzal, along with senior officers, were present at the review meeting, along with federal ministers Khawaja Asif, Muhammad Aurangzeb, Jam Kamal Khan, Awais Ahmed Leghari, Abdul Aleem Khan, Musaddik Malik, and Had Khan Cheema.

This initiative follows the recent approval of 24 state-owned enterprises for privatisation by the Cabinet Committee on Privatisation (CCOP). The Privatisation Ministry will work with relevant ministries to determine the phasing of each entity’s privatisation.

The success of this ambitious program will depend on several factors. Clearly defining “strategic sectors” will be essential to safeguarding vital national interests. Equally important will be a transparent and competitive bidding process to attract credible investors and secure fair value for the state-owned enterprises.

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The ultimate outcome of this large-scale privatisation drive has the potential to significantly impact Pakistan’s economic trajectory in the coming years.

Cover Image Courtesy: Wikimedia Commons