SOEs running into losses add to economic woes: PM Kakar

Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday said Pakistan is facing financial problems and the state owned enterprises (SOEs) that have been incurring losses add to the country’s economic woes, state-run wire service APP reported.

The interim prime minister chaired a high-level meeting over the affair of Pakistan International Airlines (PIA).

The meeting was given a detailed briefing over different issues of PIA.

PM lays focus on tax reforms, sell-off process

Caretaker Minister for Privatization Fawad Hassan Fawad, Adviser to PM Ahad Cheema and other relevant authorities attended the meeting.

The prime minister expressed his concerns over delayed decision-making with regard to issues of the PIA.

He stressed upon expediting privatisation process of the PIA and other SOEs running into losses, adding that their losses could not be met with the public tax money.

The caretaker prime minister said reforms in the aviation sector could bring better facilities to the public.

Transparency in the privations process should be ensured, he emphasised, adding fixing of responsibility for the losses was requisite so that necessary steps should be taken to avoid further losses.

Caretaker PM seeks early completion of PIA restructuring plan

The meeting was apprised of the progress on financial situation of the PIA and its privatisation process.

The prime minister directed for accelerating privatisation of the national flag carrier to avoid further burden on the national exchequer.