ISLAMABAD: The caretaker federal cabinet get the go-ahead for the restructuring of PIA and Pakistan privatization of First Women Bank.
Chaired by caretaker Prime Minister Anwaarul Haq Kakar, the caretaker cabinet at a meeting also approved appointment of an advisor for financial and administrative reorganization of PIA.
PIA will be bifurcated into TopCo and HoldCo companies. Basic engineering operations, ground handling, cargo, flight kitchen and training will be attached with TopCo while HoldCo will look after PIA investment, precision engineering complex and other subsidiaries as well as properties to attract investors.
The subcommittee on privatization was directed to dispose of matters related to state-owned entities’ claims of undecided amounts on the national flag carrier at the earliest.
The cabinet also allowed conversion of four out of eight accountability courts in Peshawar into special courts.
The meeting also approved the de-regulation of prices of medicines which are not included in the national list of essential medicines.
It may be mentioned here that the caretaker government took many decisions that were not under its mandate and should have been left to the coming elected government.
Earlier, the caretaker government had announced to privatize the PIA and also restructure the Federal Board of Revenue, but the Election Commission of Pakistan stopped it from doing so.
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