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The Secretary of the Privatization Commission clarified that Arif Habib Consortium is not a part of the Military Foundation that is buying Pakistan’s national airline. The Senate Committee on Privatization held a meeting under the chairmanship of Senator Afranullah Khan, where the Secretary Privatization briefed and informed that 25% of the shares of the national airline are with the government. The committee questioned the Parliament Dispensary’s provision of 30% subsidized medicines, and a report from the Drug Regulatory Authority was sought.
The Secretary Privatization stated that Arif Habib Consortium has extensive experience in running businesses, the Military Foundation is not a part of it, and 25% of the shares of the national airline, valued at Rs 45 billion, are with the government. He further stated that Arif Habib Consortium had appointed an American Aviation Consultancy firm, the financial close of the national airline will be in three months, and agreements with Gulf countries will be revised. According to him, Arif Habib Consortium will invest Rs 125 billion in the national airline and will collect Rs 10 billion from the government in three months.
The National Electric Power Regulatory Authority (NEPRA) has started considering a 48-rupee increase per unit after a 22% increase in electricity consumption in the country. The Secretary Privatization stated that the value of the national airline is Rs 900 billion, after privatization, its value will increase to Rs 1,800 billion, and the business plan of the airline will be presented in a month, with 40 aircraft added in four years. He also stated that closing the national airline would cost the government between Rs 200-300 billion, as it would have to pay off all liabilities and pensions worth Rs 340 billion.
During the meeting, Senator Afranullah Khan suggested that Islamabad International Airport be privatized or its facilities be improved, as Karachi Airport’s poor condition is a concern. He also suggested that the government privatize all airports. Senator Palwasha Khan questioned whether the government can do anything on its own or if it would rely on foreign companies. Chairman Afranullah Khan responded that the interest in privatizing airports has increased after the national airline’s privatization, and that Saudi Arabia, Turkey, and the UAE have expressed interest in running airports, while the Asian Development Bank is also interested in outsourcing airport management.
Senator Bilal Ahmed suggested that the government privatize all airports at once, and that the Civil Aviation Authority could provide better advice on this matter. During the meeting, Senator Omair Farooq expressed concerns about the process of privatizing the national airline. Chairman Afranullah Khan responded by stating that the airline’s annual loss was Rs 100 billion, and that privatizing it would be a significant achievement, given the government’s total budget of Rs 1,700 trillion, and a savings of Rs 900 trillion would be a major accomplishment.
The Secretary Privatization clarified that no concessions were given to any powerful bidder, and that a Supreme Court case against Arif Habib Group is still pending, which is not a basis for disqualifying them. He further stated that the Financial Management Unit of the national airline’s bidders was audited, and reports from the World Bank, IMF, and other organizations were sought.
In other news, the government has established Pakistan’s first Agri-Culture Food and Drug Authority in Punjab province. The Traffic Police have announced a traffic plan for the “Let Karachi Live” march to be held today at 3 pm in Shar-e-Faisal. The price of homes in Karachi has been out of reach for years, and renting apartments or flats has become impossible. The Pakistan Army’s Public Relations Department stated that the Indian-sponsored terrorists have been trying to disrupt peace in Balochistan.
Minister for Interior, Senator Mohsin Nawaz, stated that India is behind the recent attacks, and that they will be defeated, just like they were before. In a viral video, Karachi residents asked Mayor Karachi, Murtaza Wahab, about the poor condition of the city’s roads, and asked if it was a joke. Additional Deputy Commissioner, Luddhangan, stated that 29 people were injured in the accident.
The PTI lawyers have requested a written report from the Adial
