The government is fast-tracking the sale of major state-owned enterprises, with bidding for the national flag carrier, Pakistan International Airlines (PIA), now anticipated by the end of November, the National Assembly was informed.
This development is part of a broader privatization agenda that also includes the imminent sale of First Woman Bank and the House Building Finance Corporation, according to official information received today.
Parliamentary Secretary for Privatization, Aasia Ishaque Siddiqui, updated the House that the pre-bidding process for PIA has concluded, paving the way for the next critical phase. She further disclosed that bids have already been received for First Woman Bank, with a sale and purchase agreement slated for the 17th of this month. The divestment of the House Building Finance Corporation is also nearing completion, with its agreement expected to be finalized before December.
These developments come as the administration highlighted its efforts to improve the nation”s economic climate. Minister for Parliamentary Affairs, Tariq Fazal Chaudhary, stated that concrete measures are being implemented to attract foreign capital. He noted that foreign direct investment saw a significant 27.2 percent surge in the last fiscal year, reaching a total of $4026.6 million. The minister also pointed to a record-breaking rise in remittances in recent months.
In a move to regulate emerging financial technologies, Mr. Chaudhary announced the establishment of a formal framework for cryptocurrency. He alluded to the creation of a Pakistan Virtual Asset Regulatory Authority and a Pakistan Crypto Council to oversee the digital currency sector within the country.
Addressing social welfare, Minister of State for Planning Chaudhry Armaghan Subhani informed lawmakers about new initiatives aimed at poverty alleviation. A substantial project, valued at forty billion rupees, has been launched to uplift the twenty most impoverished districts in the nation.
Following these discussions, the National Assembly session was prorogued.