PM seeks final implementation schedule for PIA’s privatization. Prime Minister Shehbaz Sharif asked for a final plan to privatize Pakistan International Airlines (PIA) during a meeting on Wednesday. He led discussions on PIA’s privatization and restructuring the Federal Board of Revenue (FBR).
The Prime Minister instructed the Ministry of Privatization to present the privatization schedule for PIA within the next two days. He stressed the need for transparency throughout the privatization process and warned against laziness or carelessness.
PM seeks timeline for PIA privatisation
The meeting reviewed the progress of PIA’s privatization and discussed upcoming steps. The Prime Minister directed the Law Ministry to promptly resolve pending legal cases related to tax collection and revenue, aiming to resolve hurdles in disbursing 1.7 trillion rupees to the national exchequer. Additionally, he proposed establishing a legal department within the FBR.
Prime Minister Sharif emphasized the importance of implementing reforms swiftly to achieve a six to seven percent national growth rate. He highlighted the need for modernizing the tax and revenue system and promoting small and medium enterprises (SMEs) to boost economic recovery.
PM seeks final schedule for PIA’s privatization in two days
Participants discussed proposals for transparency in the FBR system, infrastructure reforms, tax incentives, combating corruption and smuggling, separating inland revenue and customs departments, and reducing tax rates.
The Prime Minister urged for clear timelines for implementing the roadmap and emphasized the need for round-the-clock work to meet targets.PM seeks final implementation schedule for PIA’s privatization, He called upon the business community to contribute to the country’s development and emphasized the importance of effective third-party audit systems.
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Dr. Shamshad Akhtar, former caretaker finance minister, highlighted Pakistan’s low tax-to-GDP ratio and stressed the importance of increasing it for progress and development. She underscored the need for reviewing tax exemptions and promoting SMEs for economic growth. Dr. Akhtar also briefed the meeting on restructuring FBR and automation strategies.