Finance Minister Muhammad Aurangzeb announced on Thursday the government plans to finalize the privatization of Pakistan International Airline (PIA) by June.
In an interview with Meher Bukhari at KHABAR on ARY News, the finance minister said that Abdul Aleem Khan, Federal Minister for Privatisation and Board of Investment, leads the PIA’s privatization agenda. He expressed optimism about receiving bids for PIA shortly.
In answer to a question regarding govt spending and reducing government spending, Aurangzeb disclosed upcoming decisions on the devolution of ministries to provinces, with the prime minister taking charge of the process. An announcement is expected within weeks.
Aurangzeb advocated for a public-private partnership in the Public Sector Development Programme (PSDP), suggesting the government should encourage private-sector investment rather than solely funding projects.
He mentioned adjusting the National Finance Commission (NFC) Award formula to boost federal income, emphasizing consultation with provinces for any changes.
The government had previously declined the International Monetary Fund’s (IMF) request to revisit the NFC Award during discussions under a $3 billion loan program.
Regarding Pakistan’s IMF agreement, Aurangzeb critiqued the prior government’s exit from the IMF program, highlighting the risk to Pakistan’s repayment abilities. He assured that the government is focused on policy-making to tackle economic challenges, undeterred by opposition claims.
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