Pakistan faces worsening financial woes as state-owned enterprises suffer losses

Interim Prime Minister (PM) Anwaar-ul-Haq Kakar conveyed on Wednesday that Pakistan is grappling with financial challenges, exacerbated by the continuous losses incurred by state-owned enterprises (SOEs).

The PM presided over a high-level meeting specifically addressing the issues plaguing Pakistan International Airlines (PIA). 

During this meeting, comprehensive briefings were presented on various aspects of PIA’s operations.

Key figures, including Caretaker Minister for Privatisation Fawad Hassan Fawad, Adviser to the Prime Minister Ahad Cheema, and other relevant authorities, were in attendance.

PM Kakar articulated his concerns regarding the protracted decision-making process concerning PIA’s issues.

He highlighted the urgency of expediting the privatisation of PIA and other state-owned enterprises that are incurring losses, highlighting that these financial setbacks should not be shouldered by the public through tax money.

PM Kakar underscored that reforming the aviation sector could lead to improved services for the public.

Furthermore, he stressed the importance of transparency in the privatisation process and the need to assign responsibility for the losses to facilitate corrective actions and prevent further financial setbacks.

The meeting received updates on PIA’s financial situation and the progress of its privatisation process.

The PM directed that the privatisation of the national flag carrier be expedited to relieve the burden on the national treasury.