Privatisation minister, WB discuss sell-off plan for PIA
Business
A meeting took place between Fawad Hasan Fawad and Najy Benhassine
ISLAMABAD (Dunya News) - Caretaker Minister for Privatisation Fawad Hassan Fawad on Thursday expressed the firm resolve of the government to privatise major loss-making state-owned enterprises to avoid a substantial financial drain of national resources.
During a meeting with the Country Head of the World Bank, Najy Benhassine, the minister discussed the caretaker government's strategic agenda for privatisation, with specific attention to privatizing Pakistan International Airlines (PIA) and optimising the performance of power distribution companies .
He said that concerted efforts aimed to rectify substantial financial losses incurred by these entities and thereby alleviate the fiscal burden on national exchequer.
The minister expressed the government’s intention to engage the WB and other financial institutions in the initial phases of privatising the national carrier.
Fawad highlighted the intention to develop a comprehensive model for PIA, with the WB remaining a key partner for potential future support.
