Privatization should be initiated without further delay: PIAF

LAHORE: Privatization is the only answer to all the loss-making Public Sector enterprises that have eaten up a huge amount so far therefore the process should be initiated without any further delay.

In a statement issued here, the Chairman Pakistan Industrial and Traders Associations Front PIAF Malik Tahir Javaid said that Pakistan International Airlines that was once one of the best airlines in the world has now become a white elephant. He said that a number of airlines that had started their operations with the help of PIA management years back are today generating huge profits.

He said that the situation has turned so bad that neither the change of Board of Directors would work in the case of PIA nor a new Chairman would be able to make it a profitable again. However if it is privatized and entire management is given to some reputed company.

Malik Tahir Javaid said that repeated political interferences and overstaffing had caused undue damage to the national flag carrier. He said that there was time when the people wanted to travel by PIA but now people are giving preference to other private sector airlines over the PIA.

The PIAF Chairman said that by privatizing the public sector enterprises the government would be able to focus on genuine issues that are creating problems for the masses and the money saved could be utilized for the welfare of the people of this country.

He said that only a few years back, the national flag carrier had no dearth of clients because at that time its services were par excellence but the political interference has pushed it to the wall.

He said that in developed world, public sector enterprises are playing a vital role in strengthening the economy but in Pakistan the situation quite different and these PSEs incurring a heavy loss of Rs. 600 billion annually.

PIAF Chairman said that if the government does not resolve this issue, it would not be able to focus on law & order situation, low investment scenario, health & education sectors.

He urged the Prime Minister to immediately convene a meeting of business leaders and present the case of loss making public sector enterprises at that meeting so that it could be able to get a consensus decision acceptable to all.