Islamabad: Federal Minister for Finance and Revenue Muhammad Aurangzeb has announced the government’s ongoing efforts to privatize financially troubled units and implement reforms in the power sector.
According to Ministry of Information and Broadcasting, during a conversation with a private television channel, Aurangzeb disclosed plans for the privatization of Pakistan International Airlines (PIA) and three power distribution companies, which is expected to be completed before the end of this year. The minister also outlined a phased approach to the outsourcing of Islamabad and Karachi airports.
Further reforms include the right sizing and restructuring of certain ministries and departments, scheduled to be finalized before the next fiscal year begins. In response to questions about the situation with Independent Power Producers, Aurangzeb mentioned ongoing discussions with Chinese authorities regarding debt re-profiling, emphasizing the government’s comprehensive measures to bolster Pakistan’s economy.