Pakistan assures IMF of privatizing PIA, PSM and State Life in 2016
Pakistan has provided a roadmap of the privatization spree to the IMF
ISLAMABAD (Dunya News) – Government on Wednesday has assured International Monetary Fund (IMF) of privatization of Pakistan Steel Mills (PSM), Pakistan International Airlines (PIA) and State Life Insurance Corporation of Pakistan (SLIC) in the ongoing year.
Pakistan has provided a roadmap of the privatization spree under IMF’s Economic Reforms Programme.
According to the blueprint, steel mills would be privatized by September 2016. While by June, at least 26 percent shares of the national airlines would also be sold.
Meanwhile, the government is desirous of selling ten percent to 15 percent shares of the State Life, Kot Addu Power Company’s 40 percent and Mari Petroleum Limited’s 18 percent shares in the ongoing year.
On the other hand, PIA employees have strongly opposed the privatization. The irked employees protested against the proposed privatization time and again in different offices including Karachi and Peshawar.
The employees are not in favour of giving the national airlines in private hands.
On December 2015, large number of employees gathered outside the head office and shut the main gate for entrance. The protesters said that they would not let CEC meeting happen in the head office.
Pakistan Unity Union’s organizing secretary Amir Dar had said that they have no option but to protest as the government did not meet its promises.
On December 7, Karachi employees protested in national airline’s head office and chanted slogans against the decision. Check-in counter remained closed due to the protest of the staff.
In Peshawar, PIA staffers had protested at Bacha Khan Airport and tied black ribbons on their arms.
