The largest organization of businesspersons and industrialists, the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), offered to buy the national flag carrier – Pakistan International Airlines (PIA).
During a press conference with industrialists in Lahore, former caretaker federal minister Gohar Ejaz revealed that independent power producers (IPPs) receive Rs 1.1 trillion annually, with a cost of electricity set at Rs 35 per unit.
He pointed out that Rs 12 of this amount is designated for capacity payments, emphasizing that these power producers have negatively impacted Pakistan’s exchequer over the past 14 years.
Ejaz further stated that the country’s economy is in the right direction but the policies surrounding them are ineffective and need improvement.
Supporting the privatization, Ejaz stated that the privatization process for Pakistan International Airlines (PIA) should proceed, adding that the Special Investment Facilitation Council (SIFC) should convene all five bidders to hear their objections.
He added that if PIA fails to attract buyers, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) would form a consortium to purchase the airline.
Renowned industrialist SM Tanveer remarked on the troubling decline in agriculture, which had previously seen a growth rate of 6.6 percent last year.
He pointed out that the top 50 exporters in the country faced raids for a mere Rs 700 million, leading to widespread industrial closures and raising concerns about the situation in Pakistan.
