ISLAMABAD: Standing Committee of National Assembly approved Privatisation Commission Amendment Bill 2023 by majority vote.

Decision was confirmed by Minister for Investment Board, Communications and Privatisation, Abdul Aleem Khan. Minister highlighted financial turmoil faced by national airline, citing annual losses ranging between Rs 80 to 100 billion, with total accumulated losses soaring to Rs 830 billion. He asserted that privatising PIA would save national treasury from an additional Rs 100 billion loss in coming year. "Doing business is work of private sector," he stated, "Whole world has accepted this and we should also accept it." To ensure transparent privatisation process, Minister assured that bids for PIA would be opened in front of media. He promised job security for PIA employees, emphasising that their rights would be safeguarded during transition.Secretary Privatisation added that approximately $ 50 million is required to make PIA profitable, financial burden government cannot bear. This financial incapacity further strengthens case for privatisation. He addressed broader issues within government offices, criticising poor condition and inefficiency prevalent in various departments.

Approved amendment aims to expedite privatisation process by directing any petition regarding privatization to Tribunal instead of High Court. Officials from Ministry of Law emphasised urgency, noting that if bill becomes an act within 240 days, it would be beneficial for country.