ISLAMABAD: Pakistan Minister for Privatization and Board of Investment Abdul Aleem Khan has stated that, given the current economic circumstances and to address the ongoing economic challenges, 15 to 20 institutions must be privatized immediately.
The federal minister made these remarks on Thursday outside the Parliament after casting his vote for the Senate. He emphasized that the loss-making institutions need to be reviewed promptly to safeguard the national capital and prevent further waste of resources.
Abdul Aleem Khan highlighted that the deficit of PIA over the last 5 years has exceeded 500 billion rupees, which is unjustifiable and poses a threat to the country’s struggling economy.
He emphasized that the issue of privatizing institutions operating at a loss should not be subject to lengthy debates but rather treated as a crucial matter for the survival of the country’s economy.
Abdul Aleem Khan stressed the necessity of making prompt decisions regarding institutions like PIA or the Steel Mill. Responding to a question regarding investment, he stated that Pakistan offers significant opportunities to attract both local and foreign investors, which should be fully utilized and leveraged.
The minister also praised the recent meeting between the Chief Minister of Khyber Pakhtunkhwa and Prime Minister Shahbaz Sharif, noting that it is time to set aside political differences and focus on the country’s development.
