LAHORE: Pakistan’s Federal Minister for Investment Board, Communications, and Privatization Abdul Aleem Khan has defended the privatization process of Pakistan International Airlines (PIA).
Addressing a press conference, Aleem Khan stated that the initiative to sell PIA began before his tenure and assured that the airline will not be sold at a low price.
Khan provided a detailed overview of the national airline’s financial situation, emphasizing that his main goal is to alleviate the government’s burden from PIA’s accumulated losses, which total Rs830 billion.
Khan explained that he oversees three departments, including privatization, and reiterated that the framework for PIA’s privatization was established by the caretaker government, restricting his ability to alter the process.
He mentioned that Rs600 billion is held in Holdcom while Rs200 billion remains tied to PIA.
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“I took office in March with a massive debt burden left by the airline. My role is not to operate or fix PIA, but to minimize the government’s losses by facilitating its privatization,” Khan said.
He dismissed criticisms, stating, “Some argue they can manage businesses effectively, yet they failed to save PIA.” In response to calls for prioritizing national assets, he asserted, “This is not my business; it belongs to the nation. I will not compromise on privatization laws or sell the airline for a low price.”
Khan pointed out that over 25 ministers have previously attempted to address PIA’s ongoing challenges, and he is prepared to take responsibility for any errors in the sale process.
However, he stressed that decisive action is needed to reduce the government’s fiscal losses.
