Federal Finance Minister Muhammad Aurangzeb has stated that the privatization of PIA is progressing well, with the process expected to be completed by June.
Addressing an event at the stock exchange, Federal Finance Minister Muhammad Aurangzeb highlighted efforts to enhance the tracking system of FBR, stressing the need for digitization improvement in FBR to boost revenues.
He emphasized that the privatization work concerning PIA is proceeding swiftly, emphasizing the involvement of various stakeholders and institutions in the process. Minister Aurangzeb underscored that the work is being expedited on a daily basis, not over weeks, affirming that the privatization process of PIA will be concluded by June.
Expressing satisfaction with the recent records set in the stock market, Minister Aurangzeb credited Farrukh Khan and Chinese partners for elevating the stock to new heights, acknowledging Dr. Shamshad Akhtar’s contributions as well.
Minister Aurangzeb noted the improved conditions of the current financial year compared to the previous one, citing positive developments in the exchange rate, inflation rate, and overall economic situation managed by the caretaker government. He emphasized the need to continue the economic stabilization with a long-term plan.
Highlighting the upcoming discussions on April 14 and 15 regarding the next long-term agreement with the IMF, Minister Aurangzeb reaffirmed the commitment to sustaining the momentum gained from successfully completing the previous agreement with the IMF.
Addressing the investment scenario in PSX, Minister Aurangzeb pointed out the relatively small investment currently, noting the necessity to increase investment and attract more companies to the market among the 524 listed companies.
Regarding CPEC, Minister Aurangzeb stressed the urgency to focus on CPEC phase 2, highlighting the imminent business transfers from China under phase one.
