‘Foreign investment’
ISLAMABAD
Bill regarding privatization of PIA was presented in Senate Friday. Chairman Senate sent the bill to respective committee on the proposal of opposition senators. Federal minister Khawaja Saad Rafiq while presenting the bill regarding privatization of PIA in Senate on Friday said PIA loss is expected to be Rs 112 billion this year. There is loan of Rs 742 billion and we have to obtain loan to repay loans. We will have to bring change in the system of PIA and no one will become jobless in this regard. Foreign investment will have to be brought in PIA.
The planes on lease are being demanded back and planes are not becoming available on further lease.
He went on to say a committee will have to be set up to save the national institutions from complete destruction.
He indicated a holding company will be set up for this purpose. PIA control will have to be given to private sector.
