PM Kakar Fast-Tracks PIA Privatization to Tackle Financial Crisis

Islamabad: In a determined effort to address Pakistan International Airlines (PIA)’s acute financial woes, Caretaker Prime Minister Anwar Haq Kakar has issued directives to accelerate the privatization process of the national flag carrier.

As per a statement released by the Prime Minister’s Office, PM Kakar presided over a crucial meeting on Thursday where he received a comprehensive briefing on PIA’s financial predicaments.

He underscored the urgent need to expedite the privatization of PIA, with a firm commitment to delivering high-quality services to passengers.

Kakar emphasized that PIA must enhance its services to effectively compete with international airlines, stating, “We need to elevate the standards of Pakistan’s national airline to make it a strong contender in the global aviation market.”

Additionally, PM Kakar urged all relevant stakeholders to swiftly present actionable solutions to tackle the challenges confronting PIA.

He specifically directed Caretaker Aviation Minister Fawad Hassan Fawad to take charge and accelerate the process of privatizing the national flag carrier.

PIA’s financial woes and operational setbacks have severely hampered its ability to function effectively. The airline’s troubles were further exacerbated by the failure to secure the anticipated 23 billion rupees from the interest support program, resulting in the grounding of several flights due to technical issues.

An official within PIA lamented the airline’s current predicament, stating, “The situation is becoming progressively worse with each passing day.”

Back in August, former Federal Aviation Minister Saad Rafique had highlighted that despite strenuous efforts over the past 14 months, PIA had not exhibited significant improvements in its operations.

Experts caution that without swift and effective measures, PIA may struggle to sustain its operations and could lose market share to airlines from Gulf nations and other international carriers.