Tuesday, December 5, 2023

State-owned enterprises running into losses add to economic woes: PM

State-owned enterprises running into losses add to economic woes: PM
October 11, 2023 Web Desk

ISLAMABAD (APP) - Caretaker Prime Minister Anwaarul Haq Kakar on Wednesday said that the country was facing financial problems and those state-owned enterprises (SOEs) which had been incurring losses, were adding to these economic woes.

The prime minister chaired a high-level meeting over the affair of Pakistan International Airlines (PIA). The meeting was given a detailed briefing over the different issues of PIA.

The meeting was attended by Caretaker Minister for Privatization Fawad Hassan Fawad, Adviser to PM Ahad Cheema and other relevant authorities.

During the meeting, the prime minister expressed his concerns over the delayed decision making with regard to issues of PIA. He stressed upon expediting the privatization process of PIA and other SOEs running into losses, adding that their losses could not be met with the public tax money.

The caretaker prime minister said that reforms in the aviation sector could bring better facilities to the public.

Transparency in the privations process should be ensured, he emphasized, adding fixing of responsibility for the losses was requisite so that necessary steps should be taken to avoid further losses.

The meeting was apprised of the progress on the financial situation of PIA and its privatization process. All the hurdles in its privatization process were removed, it was further added. The prime minister directed for accelerating privatization of the national flag carrier to avoid further burden on the national exchequer.