Pakistan aims to revitalize aviation industry through regulatory
framework: Fawad
Caretaker Minister for Privatization, Fawad Hassan Fawad,
announced on Thursday that the caretaker government is in the process of
developing a regulatory framework to enhance Pakistan's aviation industry.
During an interview with a private television channel, Fawad
highlighted that the privatization of Pakistan International Airlines (PIA)
would be conducted in phases. He underscored the substantial annual losses,
amounting to billions of rupees, incurred by financially struggling entities
like Pakistan Steel Mills, House Building Finance Corporation, and certain
power companies. Fawad emphasized the urgent need for a mechanism to save
billions for Pakistan.
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Addressing queries about the delay in the privatization
process, Fawad assured that comprehensive efforts are underway to expedite the
privatization of non-profitable organizations.
Responding to the caretaker government's commitment to
improving every sector despite its limited tenure in handling national affairs,
Fawad asserted that the primary focus is on finalizing the regulatory
framework. This, he explained, is aimed at enabling the next elected government
to make progress without unnecessary delays.
Caretaker
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Concerning the status of employees associated with the
airline and other non-profitable sectors, Fawad mentioned that a strategy would
be adopted to safeguard the benefits and rights of employees. However, he
clarified that Pakistani pilots are considered the best in the world, and more
than 90 percent of them would be retained.
Source: Urdu Point