Ex-minister warns against PIA’s hasty sell-off

Former federal minister and Pakistan Peoples Party (PPP) leader Naveed Qamar on Friday expressed concern over the country’s deteriorating economic situation, warning that the policy makers had run out of solutions and dangerous measures were being proposed to remedy the economic woes.

He pointed to the prime minister's statement regarding the emergency privatisation of PIA, where even the army chief was allegedly involved. He cautioned against the rush, urging the government to carefully consider the consequences of their actions.

He further underscored the need for negotiations with labour unions during the privatisation process.

Naveed highlighted the involvement of the establishment in what he referred to as a "hybrid government".

The remarks came a day after caretaker Prime Minister Anwaarul Haq Kakar decided to expedite the privatisation process of the national carrier, assigning the task to newly appointed Privatisation Minister Fawad Hassan Fawad.

Read More: Govt to go for expeditious PIA sell-off

During a seminar, the PPP leader warned that if PIA continued its current operations in the same manner, it would face inevitable closure.

He highlighted the reliance on borrowing loans to meet expenses, citing the difficulty in tax collection and the ease of borrowing. “Collecting taxes has become difficult while borrowing loans has become easy.”

Without mentioning Pakistan Tehreek-e-Insaaf (PTI), he criticised the Imran Khan-led government for the historic loans taken during its rule.

Read More: PIA ‘unable’ to pay August salaries to employees

On the other hand, no one was willing to lend PDM coalition government any loan during the past one-and-a-half years of its government. He stressed the importance of implementing reforms to avoid future reliance on the International Monetary Fund (IMF).

The PPP leader also raised concerns about tax being collected through electricity bills and questioned the need for “such a large Federal Board of Revenue (FBR)” if proper taxation measures were not being employed.

Naveed stressed that urgent actions were required to address the economic crisis and cautioned against hasty decisions that could have long-term consequences for the country.