{"id":62223,"date":"2024-04-22T22:53:25","date_gmt":"2024-04-22T17:23:25","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=62223"},"modified":"2024-11-12T23:14:58","modified_gmt":"2024-11-12T17:44:58","slug":"pakistan-airlines-islamabad-aiport-to-privatize-by-june","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/04\/22\/pakistan-airlines-islamabad-aiport-to-privatize-by-june\/","title":{"rendered":"Pakistan Int’l Airlines and Islamabad Aiport to Privatize by June 2024"},"content":{"rendered":"\n

ISLAMABAD-<\/strong> Finance Minister Muhammad Aurang\u00adzeb has stated that the process of privatizing Pakistan International Airlines (PK)<\/a> will be finalized by the end of June or early July, with Islamabad Airport (ISB)<\/a> potentially following suit shortly after.<\/p>\n\n\n\n

\u201cThe government has no business being in business,\u201d the minister declared at a Saturday afternoon news briefing, explaining the government\u2019s plan to divest from state-owned enterprises (SOEs).<\/p>\n\n\n\n

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Photo: AP-BID Boeing 777-340\/ER (cn 33780\/705) Pakistan Internati\u2026 | Flickr<\/figcaption><\/figure>\n\n\n\n

Pakistan Airlines Privatize by June<\/h2>\n\n\n\n

\u201cWe expect the bids for PIA to come in the next two to three weeks, and by the end of June or early July, we can move it to the investors,\u201d he said. \u201cThe Islamabad airport would be the next,\u201d he added, \u201cfollowed by the airports in Karachi <\/a>and Lahore.\u201d<\/p>\n\n\n\n

Airlines pay overflight fees to the governments of each country they fly over on their routes. This covers the use of air traffic control and other navigation services.<\/p>\n\n\n\n

The minister did not explain if the government would retain some shares in PIA after privatization or sell all its shares, reported to Dawn<\/em>.<\/p>\n\n\n\n

Mr. Aurangzeb concluded his visit to Washington <\/a>on Sunday with a busy week of 62 meetings \u2014 explaining decisions, making pledges, and seeking understanding with multilateral and bilateral donors.<\/p>\n\n\n\n

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Photo: By Anna Zvereva from Tallinn, Estonia – Pakistan International Airlines, AP-BLZ, Airbus A320-216, CC BY-SA 2.0, https:\/\/commons.wikimedia.org\/w\/index.php?curid=87326398<\/figcaption><\/figure>\n\n\n\n

Meeting with IMF<\/h2>\n\n\n\n

The finance minister and his team were in Washington this week to attend the spring meetings of the International Monetary Fund (IMF) and the World Bank. They also conducted a series of bilateral meetings with visiting finance ministers, heads of financial institutions, and senior US officials.<\/p>\n\n\n\n

His meeting with US Assistant Secretary of State Donald Lu drew significant attention in Pakistan<\/a>, as former prime minister Imran Khan accused Mr. Lu of toppling his government. When asked about this particular meeting, Mr Aurangzeb, however, pointed out that visitors do not determine whom they meet; rather, the hosts decide.<\/p>\n\n\n\n

At his news conference at the Pakistan Embassy, Mr. Aurangzeb reiterated his position that Pakistan did not need new prescriptions to fix its economy, stating, \u201cWe need to implement the plans we make.\u201d<\/p>\n\n\n\n

He highlighted three main planks of his economic strategy: expanding the tax net, implementing energy reforms, and privatizing the SOEs.<\/p>\n\n\n\n

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Photo: Max Pixel<\/figcaption><\/figure>\n\n\n\n

Long Term Strategies<\/h2>\n\n\n\n

The government, he said, had prepared short, medium, and long-term strategies for expanding the tax net.<\/p>\n\n\n\n

\u201cIt\u2019s quite clear that there\u2019s a gap between policies and implementation,\u201d remarked Mr. Aurangzeb when asked why Pakistan has failed to resolve this long-standing issue.<\/p>\n\n\n\n

\u201cFor instance, litigation in the tribunals, manned by the FBR and the law ministry, took forever,\u201d he added.<\/p>\n\n\n\n

\u201cWe have asked them to make decisions in the next three or four months, even if it goes against us,\u201d he said. \u201cWe have also shortlisted consultants for end-to-end digitalization, which would definitely improve tax collection.\u201d<\/p>\n\n\n\n

He said the government was also expediting the process for identifying people who lived beyond their means, and they would soon be brought under the tax net.<\/p>\n\n\n\n

He stressed that providing energy \u2014 petrol, gas, electricity \u2014 to both domestic and commercial consumers was necessary for uplifting the economy. \u201cIf we cannot get this right, we cannot increase our exports,\u201d he said.<\/p>\n\n\n\n

Mr. Aurangzeb said the government was already taking steps to stop leakages and theft of electricity and to move distribution into the private sector. \u201cThe direction is very clear,\u201d he declared.<\/p>\n\n\n\n

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Why Flag Carriers Are Privatizing in the Indian Subcontinent?<\/a><\/blockquote>