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PM Kakar conveys message to Aviation Adviser for PIA privatization

08:36 PM | 9 Jan, 2024
PM Kakar conveys message to Aviation Adviser for PIA privatization

ISLAMABAD - Caretaker Prime Minister Anwaar ul Haq Kakar met with Adviser on Aviation, Air Marshal Retired Farhat Hussain on Tuesday.

During the meeting, the premier directed the adviser to accelerate the process of privatization of Pakistan International Airlines (PIA) and outsourcing of airports’ operations.

Talking to the Adviser on Aviation, the premier said transparency should be a priority in the whole process of privatization of PIA and outsourcing of airports.

At the meeting, the adviser provided a comprehensive overview to the prime minister regarding his ministry's operations and the reforms initiated within the aviation sector.

On the occasion, the prime minister said one of the top priorities of the government is to protect the national kitty from the losses inflicted by state-owned entities, adding that there is an immense potential for investment in the country's aviation sector.

Pakistan's national carrier - which was once seen by international carriers as a success story - is virtually operating with half of its fleet. 

The carrier has to clear dues worth billions to different state institutions and the pending liabilities have forced the carrier to ground around a dozen planes. PIA's challenges worsened in the last few months as the airline was not able to get the aircraft repaired. 

There have been demands for privatizing the national carrier due to its economic nonviability. Former Aviation Minister Khawaja Saad Rafique also stressed the importance of privatizing the carrier or else it would have to shut operations.

In the final days of the PDM regime, it was also decided to privatize loss-making Pakistan International Airlines during a meeting of the Cabinet Committee on Privatization chaired by then Finance Minister Ishaq Dar.

The caretaker regime has also expedited the process already and a consultant in this regard has been hired. Caretaker Federal Minister for Privatisation, Fawad Hassan Fawad has also announced that the airline would be privatized as it has become a loss-making entity though there seem to be multiple hurdles to achieve the goal including whether the caretaker regime is competent to privatise state assets or not.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - PKR to US Dollar, Euro, Pound, Dirham, and Riyal - 21 April 2024

Pakistani currency remains unchanged against US Dollar and other currencies on April 21, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 21 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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