ISLAMABAD: The fate of Pakistan International Airline and Pakistan Steel Mill has already been decided only public was made unaware of it.
International Monetary Fund has revealed that the government of Pakistan had given timeline for privatisation of PIA that would be done by December 2015 and privatisation of PSM would be done by March 2016.
Meanwhile, Mission Chief Pakistan IMF Harald Finger, said that the privatization of public entities in Pakistan was slow, however, the delay process existed in most countries. He added that the restructuring of railways was highly recommended.
He went on to say that distributing companies in the power sector needed to be privatised, while the collection of bills needed to be increased, theft should be controlled and reduction in line losses should be maintained.
Harald Finger further said that circular debt stands at 2 percent of the GDP and over three years it needs to come further down.
