Government Expands Privatization Plan to Include Airports, Hotels, and Banks

Islamabad: The government has made further progress in its privatization program as part of a broader economic reform strategy aimed at stabilizing the national economy.

According to Finance Ministry adviser Khurram Shehzad, organized measures are underway to ensure effective privatization of state-owned institutions. He described the privatization of Pakistan International Airlines as a landmark and historic step that has given new momentum to the country’s economic reforms and is expected to bring further improvements in the coming days.

He added that investment in power distribution companies would help improve the electricity sector. Following the outsourcing of Islamabad International Airport, other airports across the country will also be outsourced.

The adviser further said that, in addition to airports, hotels and banks will also be included in the government’s privatization program.

The 249th meeting of the Privatization Commission Pakistan was held under the chairmanship of Muhammad Ali. During the meeting, it was decided that the recommendation to include Fauji Fertilizer Company in the consortium interested in acquiring PIA would be forwarded to the Cabinet Committee on Privatization for final approval.

Khurram Shehzad stated that the Privatization Commission Board has endorsed the recommendation to include the company in the consortium after it fulfilled all legal requirements.