PNN: On Friday, the federal cabinet approved the privatisation of Pakistan International Airlines (PIA), noting satisfaction with the successful sale of 75 percent of the national carrier’s shares.
Prime Minister Shehbaz Sharif, who presided over the cabinet meeting, described the PIA bidding process as “highly transparent” and termed it a key step towards restructuring loss-making state-owned enterprises.
Extending New Year greetings to cabinet members, the prime minister said the government had committed from day one to privatising entities that had consistently incurred losses, adding that the PIA transaction marked a significant milestone in the reform agenda. He said privatisation of loss-making enterprises remained a core pillar of the government’s economic vision and welcomed the “encouraging” GDP growth recorded in the first quarter of the current fiscal year, noting that the economy had been steered away from the brink of default towards stability.
Referring to his recent diplomatic engagements, the prime minister termed his meetings with UAE President Sheikh Mohamed bin Zayed Al Nahyan productive and said he also held a “pleasant and positive” telephone conversation with Saudi Crown Prince Mohammed bin Salman, during which both leaders expressed satisfaction over expanding economic and strategic cooperation.
The cabinet also ratified decisions of the Cabinet Committee on Legislative Cases (CCLC) taken on December 3 and 30, 2025, including matters related to the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025.
Separately, the cabinet approved the Economic Coordination Committee’s decisions of August 26, 2025, including measures to provide relief to electricity consumers affected by the off-grid (captive power plant) levy. It also approved initiating a presidential ordinance to amend the Off-Grid (Captive Power Plants) Levy Act, 2025, to facilitate third-party gas sales to captive power plants.
Meanwhile, Prime Minister Shehbaz Sharif welcomed the Pakistan Stock Exchange’s benchmark 100 Index crossing the 179,000-point mark, calling it a reflection of growing investor confidence in the government’s economic policies. He credited the economic team for steering the country towards growth and stability.
PM Shehbaz hails PIA sell-off as reform milestone, calls deal ‘highly transparent’: Says PSX surge a reflection of growing investor confidence in govt’s economic policies.