Government to Get Rs55 Billion from National Airline Privatization

Islamabad: Advisor to the Prime Minister on Privatization Muhammad Ali says that the government will get Rs55 billion from the privatization of the national airline.

While holding a press conference with Federal Information Minister Atta Tarar, Adviser on Privatization Muhammad Ali said that the national airline was once a very good airline. By now, the national airline should have had 100 aircraft, but today only 18 aircraft of the national airline are operating. Of the 18 operational aircraft of the national airline, 12 are on lease. The airline provides facilities to 4 million passengers annually. The national airline’s land routes are its biggest asset.

He said that the number of employees of the national airline is 6,700 and the national airline is making 240 round trips weekly. The national airline has a total of 33 aircraft, 20 of which are its own while 13 are on lease, and 24 of which are pre-2010.

Muhammad Ali said that the process of privatization of institutions started 20 years ago in 2005. Privatization will gradually restore the glory of the national airline. Many mistakes were made in the past. Privatization will bring investment. The government will get not 10 billion but 55 billion rupees from privatization. 10 billion rupees will be received in cash, while there will be government equity of 45 billion rupees.

He said that he worked hard for 6 months for the privatization of the national airline. Due to many mistakes in the past, the condition of the national airline deteriorated. Only 2 aircraft are from after 2017. The national airline has a domestic market share of 30 percent. The national airline is a regional airline, not a global one, and most of its international flights are to the Middle East.

The Prime Minister’s Adviser on Privatization said that in 2015, the national airline’s negative equity was Rs 213 billion; in 2024, the national airline’s losses were Rs 700 billion; it had been in loss every year since 2015; and the government will get Rs 55 billion from privatization but will not have to make up for the loss.

Federal Minister for Information Atta Tarar said that, thank God, the national airline has finally been privatized. Prime Minister Shehbaz Sharif and Field Marshal Asim Munir played a very important role in this. Field Marshal also played an important role in the privatization.

Atta Tarar said that the privatization of the national airline was carried out in a transparent manner, and the privatization process was shown live on the instructions of the Prime Minister. He thanked Miftah Ismail for describing the bidding of the national airline as an excellent bidding.