Prime Minister Shehbaz Sharif announced on Friday that the bidding process for the divestment of a seventy-five percent stake in Pakistan International Airlines has been completed successfully and transparently, hailing it as a milestone in steering the country back from the brink of default towards economic stability.
Presiding over a Federal Cabinet meeting today, the premier expressed satisfaction with the significant growth in the nation”s GDP during the first quarter of the current fiscal year, 2025-26.
Mr Sharif reiterated his government”s commitment to economic reforms, stating that the sale of loss-making State-Owned Enterprises (SOEs) is a central part of this vision. “We had expressed our resolve since we assumed power that loss-making State-Owned Enterprises would be privatised and the privatisation of PIA is a significant milestone in this regard,” he commented.
The Prime Minister also briefed the Cabinet on his recent diplomatic engagements. He termed his meetings with the President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, as “extremely useful” for bilateral relations. He also recounted a telephone conversation a day prior with Saudi Arabia”s Crown Prince, Mohammed bin Salman, in which both leaders expressed satisfaction with the progress of economic and strategic ties and discussed their further expansion.
During the session, the Federal Cabinet ratified decisions made by the Cabinet Committee for Legislative Cases in meetings held on 30 December 2025 and 3 December 2025. The ratifications included confirmation of action regarding the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025.
Approvals were also granted for decisions made during the Economic Coordination Committee meeting of 26 August 2025. This included a measure to provide relief to consumers of electricity distribution companies concerning the Off-Grid (Captive Power Plant) Levy and to formulate a strategy on the matter.
Furthermore, acting on a recommendation from the Petroleum Division, the Cabinet approved action for the issuance of a Presidential Ordinance. The ordinance will amend the Off-Grid (Captive Power Plants) Levy Act 2025 in relation to the sale of gas to off-grid captive power plants by a third party.
At the conclusion of his remarks, the Prime Minister congratulated the cabinet members on the New Year and conveyed his best wishes.