ahlam1399
03-07-2018, 12:25 PM
ISLAMABAD: The federal cabinet has shelved the plan to privatise the Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM).
Sources in the federal cabinet told The News that the proposal for restructuring of the airlines for bringing improvement in its working was approved on Tuesday in the weekly meeting of the cabinet. The cabinet has approved the proposal to restart PSM by leasing it out.
A report in this regard was put up in the cabinet where various aspects of the plan were thrashed out. The members of the cabinet expressed their views candidly and most of the members opposed the idea of privatisation of the two organisations as brief mandated period of the government is left.
Senator Mushahidullah Khan vehemently opposed the proposal to privatise the PIA and PSM at this stage. He had been labour leader in the PIA and served it for 22 years in various capacities. He was founder of Air League, popular labour outfit of the airlines. Mushahidullah was of the view that if privatisation of the two is carried out at this stage, it would have adverse impact on the election campaign of the party since the opposition that has no political issue to steer its election campaign against the ruling party, would exploit it.
The sources said that restructuring of the PIA would be done in the manner that its efficiency would improve. The government will retain its 51 percent shares and management, while 49 percent shares will be floated for sale. Likewise, the steel mills will be leased out in specific period of time and its production would reach to its capacity by using modern technology.It has been decided that the production in the steel mills would be started forthwith after leasing it out. The whole process would be kept transparent by all standards, the sources said.
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Sources in the federal cabinet told The News that the proposal for restructuring of the airlines for bringing improvement in its working was approved on Tuesday in the weekly meeting of the cabinet. The cabinet has approved the proposal to restart PSM by leasing it out.
A report in this regard was put up in the cabinet where various aspects of the plan were thrashed out. The members of the cabinet expressed their views candidly and most of the members opposed the idea of privatisation of the two organisations as brief mandated period of the government is left.
Senator Mushahidullah Khan vehemently opposed the proposal to privatise the PIA and PSM at this stage. He had been labour leader in the PIA and served it for 22 years in various capacities. He was founder of Air League, popular labour outfit of the airlines. Mushahidullah was of the view that if privatisation of the two is carried out at this stage, it would have adverse impact on the election campaign of the party since the opposition that has no political issue to steer its election campaign against the ruling party, would exploit it.
The sources said that restructuring of the PIA would be done in the manner that its efficiency would improve. The government will retain its 51 percent shares and management, while 49 percent shares will be floated for sale. Likewise, the steel mills will be leased out in specific period of time and its production would reach to its capacity by using modern technology.It has been decided that the production in the steel mills would be started forthwith after leasing it out. The whole process would be kept transparent by all standards, the sources said.
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