Government to Privatize Islamabad International Airport

Islamabad: In Tuesday’s budget speech 2024-25, the Finance Minister said the government’s privatisation of national institutions is a key priority.

Finance Minister Mohammad Aurangzeb said: The government should not be in business. The prime minister strongly believes in reducing government interference in the commercial space and promoting the private sector, so we have prioritized privatization. The government will not only accelerate the ongoing privatization of institutions like the Pakistan International Airport (PIA), the Roosevelt Hotel, the House Building Finance Corporation, and the First Women`s Bank. Still, it will also launch a concrete program offering other state-owned enterprises (SOEs) for private sector investment.

In the coming years, special attention will be paid to transferring ownership and management of energy, financial, and industrial SOEs to the private sector. He also shared details regarding the privatisation of PIA.

Afterwards, a liability of Rs622 billion was transferred from the privatization commission. The commission has invited expressions of interest through advertisements in national and foreign newspapers for privatizing PIA in April 2024.

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