RCCI terms PIA privatization a positive step towards economic revival

RAWALPINDI, Dec 24 (APP): The Rawalpindi Chamber of Commerce and Industry (RCCI) has hailed the successful privatization of Pakistan International Airlines (PIA), terming it a commendable and much-needed step towards economic revival and fiscal discipline.
RCCI President, Usman Shaukat, in a statement issued on Wednesday, said that the privatization of low-performing state-owned enterprises (SOEs) had long been a burden on the national exchequer, and the government’s decision to offload such entities was both timely and appreciable.
“For years, loss-making SOEs have drained public resources. This decision reflects the government’s seriousness in addressing inefficiencies and reducing its commercial footprint,” he said.
He also appreciated the deal dynamics and expressed the hope that the new owners would in realize PIA’s operational and financial proficiency.
“This privatization deal is a beacon of hope for Pakistan’s economy. We are confident that new ownership will bring professional management, fresh investment, and operational efficiency to PIA, enabling it to regain competitiveness in the global aviation market,” he added.
The successful bidding process, culminating in the Arif Habib consortium’s winning bid of Rs. 135.0 billion, marks a significant milestone in Pakistan’s reform agenda. Shaukat expressed optimism that the bleeding of public finances through PIA would now be halted and that the move sends a strong and positive signal to local and foreign investors.
RCCI further expressed hope that this development would pave the way for the swift privatization of other loss-making state-owned enterprises.
“We urge the government to expedite the privatization process of other bleeding SOEs to ease the burden on the economy and channel public funds towards development priorities,” Usman said.
The Chamber also commended the government’s efforts to improve the business climate and reiterated its support for continued structural reforms aimed at attracting domestic and foreign investment, strengthening investor confidence, and ensuring sustainable economic growth.