Reforms under way to privatise PIA

ISLAMABAD: Pakistan International Airlines (PIA) will be privatised without any liabilities, as the losses of the national flag carrier will be transferred to the holding company, said Minister for Privatisation Abdul Aleem Khan on Saturday.

He stated that the International Monetary Fund (IMF) has agreed on two significant issues concerning the buyers of PIA. He assured that the 18 per cent sales tax on purchasing new aircraft will be abolished following receiving IMF consent.

According to the new conditions, the entire liabilities of PIA will be eliminated, and after these reforms, the privatisation would also become more attractive and lucrative for investors, he said.

Mr Aleem disclosed that various issues hindering the privatisation process of this institution have been resolved, and the remaining work and unresolved steps will materialise quickly.

“Matters for the privatisation of PIA are being dealt with expeditiously and good news will be surfaced soon about handing over the institution to the private sector,” the minister asserted.

He said that resuming flights to Europe is a very welcome step and facilitates Pakistanis travelling via PIA.

Published in Dawn, December 22nd, 2024