Shehbaz Sharif hails national airline privatization milestone

Prime Minister Shehbaz Sharif on Monday announced that the first financial close of the national airline's

Prime Minister Shehbaz Sharif on Monday announced that the first financial close of the national airline’s privatization agreement had been successfully completed, calling the development a significant milestone in Pakistan’s journey towards economic recovery and reform.

In his statement, the prime minister said the achievement marked another important step in the government’s efforts to modernize the economy, improve efficiency in state-owned enterprises and attract both domestic and foreign investment.

He said the completion of the financial transaction represented growing confidence in Pakistan’s economic policies and reform agenda.

According to the prime minister, the transfer of administrative control to the consortium officially begins a new chapter for the country’s national carrier. He expressed hope that the change in management would improve the airline’s operational performance, service standards and financial sustainability.

Shehbaz Sharif said the successful completion of the process sends a positive message to international investors and business communities about Pakistan’s commitment to structural reforms and privatization.

He added that strengthening investor confidence remains one of the government’s top priorities as it seeks to create a more stable and competitive economy.

The prime minister praised Deputy Prime Minister and Foreign Minister Ishaq Dar for his contribution and support during the privatization process.

He also paid special tribute to Field Marshal Syed Asim Munir for his role and support in facilitating the successful completion of the agreement.

Shehbaz Sharif further acknowledged the efforts of Adviser on Privatization Muhammad Ali, Finance Minister Muhammad Aurangzeb and officials of the Privatization Commission of Pakistan for their work in finalizing the transaction.

The prime minister reiterated that the government remains committed to continuing bold and difficult economic reforms aimed at improving productivity, reducing the burden of loss-making state enterprises and strengthening the country’s financial position.

He said Pakistan’s economic future depends on sustainable reforms, improved governance and greater participation of the private sector in key industries.

The government believes that privatization and economic restructuring will help create employment opportunities, increase competitiveness and encourage long-term investment in the country.

Officials view the successful completion of the first financial close as an important achievement that could pave the way for further privatization initiatives and broader economic reforms in the coming years.