Prime Minister’s Adviser on Privatization Muhammad Ali has said that there is no likelihood of the Roosevelt Hotel in New York coming under the control of the US administration, mentioning that work on its privatization is being carried out on an emergency basis.
He also said that an agreement for the privatization of Pakistan International Airlines (PIA) is expected to be finalized within the current month.
In an exclusive interview with Samaa News, the adviser said that following PIA, the government plans to privatize six more state-owned entities this year out of a total of 24 included in the privatization program. He also hinted at the future privatization of Pakistan Steel Mills and Pakistan Railways.
Muhammad Ali said the national airline would be handed over to the private sector in April, with the agreement expected to be signed with the Arif Habib consortium later this month. He added that the consortium would begin flight operations from April and has already started searching for a CEO and senior management.
Regarding power sector reforms, he said that among five power distribution companies, Islamabad, Gujranwala, and Faisalabad DISCOs have entered advanced stages of privatization, while Hyderabad Electric, Sukkur Electric, ZTBL, and House Building Finance Corporation are also part of the process.
The adviser stressed that commercial entities such as Steel Mills and Railways would need to be transferred to the private sector. He said the process of appointing a financial adviser for the Roosevelt Hotel would be completed next month.
Muhammad Ali added that work is underway on a new business plan for PIA, which would lead to significant improvements in services. He clarified that despite profits or losses, strategically important institutions would remain under government control.
He also assured that the privatization of power distribution companies would not increase the burden on consumers, stating that the introduction of new technology would improve electricity supply and service quality.
