ISLAMABAD: The government has decided to endorse a plan to fast-track Pakistan International Airlines Corporation’s privatization, state media reported on Tuesday, while reiterating its resolve to offload loss-making public entities from the national exchequer.
Cash-strapped Pakistan is looking to privatize the debt-ridden PIA to raise funds and reform state-owned enterprises as envisaged under a $7 billion International Monetary Fund program secured last year.
The decision to endorse the new privatization plan follows Pakistan’s failed attempt last year to offload a 60 percent stake in the airline, which drew just a single offer that was well below the asking price.
The issue PIA privatization came under discussed at a meeting in Islamabad chaired by Deputy Prime Minister Senator Ishaq Dar.
“Cabinet Committee on Privatization (CCOP) on Tuesday approved a fast-tracked plan for the privatization of Pakistan International Airlines Corporation (PIACL), including the divestment of 51-100 percent share capital together with management control,” the Associated Press of Pakistan (APP) news agency reported.
“The deputy PM emphasized the government’s commitment to PIACL’s privatization to unlock its full potential and reduce financial burden on the national exchequer,” it added.
APP did not provide further details of the revised plan or explain how it would differ from the previous unsuccessful effort.
Earlier this month, the government appointed Muhammad Ali, formerly the special assistant to the prime minister on the power sector, as adviser for privatization.
Last year, PIA got permission to resume operations in Europe after a 2020 ban by the European Union Aviation Safety Agency (EASA), which had raised concerns about the ability of Pakistani authorities and the Civil Aviation Authority to ensure compliance with international aviation standards.
EASA and UK authorities had suspended PIA’s operations in the region after Pakistan launched a probe into pilot licensing irregularities following a 2020 crash that killed 97 people.
Pakistan hopes that the restoration of routes to Europe and anticipated approval for UK operations will boost the airline’s appeal to potential buyers.
Pakistan approves fast-track plan to privatize loss-making national airline
https://arab.news/8txkn
Pakistan approves fast-track plan to privatize loss-making national airline
- Cash-strapped Pakistan wants to privatize debt-ridden PIA to reform state-owned enterprises
- Pakistan hopes the restoration of PIA routes to Europe will boost the airline’s appeal to buyers
Pakistan to face New Zealand today in T20 World Cup Super Eight encounter in Colombo
- The second phase of the T20 tournament kicks off without former champions AustraliaThe second phase of the T20 tournament kicks off without former champions Australia
- Zimbabwe, who did not qualify in 2024, top Group B with a stunning unbeaten campaign
ISLAMABAD: Pakistan will take on New Zealand in their T20 World Cup Super Eight stage clash in Colombo on Saturday, with both sides looking to strengthen their chances of reaching the knockouts.
The second phase of the T20 tournament kicks off without former champions Australia, who shockingly failed to make it out of their group. Instead, Zimbabwe, who did not even qualify in 2024, topped Group B after a stunning unbeaten campaign where they not only beat Australia but also co-hosts Sri Lanka.
Babar Azam was dropped for Pakistan’s final T20 World Cup group game against Namibia for scoring too slowly, head coach Mike Hesson said on Friday. Pakistan racked up 199-3 and secured a place in the Super Eights by 102 runs.
The match is scheduled to start at 6:30pm Pakistan time.
“New Zealand have played a huge amount in the subcontinent in recent times so we have to play at our best,” Hesson told reporters after Pakistan’s final practice session on Friday was washed out by rain.
Pakistan left out Azam for the same reason at last year’s Asia Cup and even after dismal showing in the Big Bash League, he was still selected for the T20 World Cup.
“We brought Babar back in for a specific role post the Asia Cup... We’ve got plenty of other options who can come in and perform that role toward the end,” Hesson said.
“Babar is actually the first to acknowledge that...He knows that he’s got a certain set of skills that the team requires and there are certain times where other players can perform that role more efficiently.”
Hesson also defended dropping pacer Shaheen Shah Afridi after he conceded 101 runs in three matches, including 31 in two overs against India.
“We made a call that Salman Mirza was coming in for Shaheen, and he bowled incredibly well,” he said. “To be fair, he was probably really unlucky to not be playing the second and third games.”
