Karachi, The Pasban Democratic Party has called for the privatization of all commercial government institutions, including the Pakistan International Airlines (PIA), emphasizing the importance of competition over government-led operations in commercial enterprises. General Secretary Iqbal Hashmi highlighted the financial burdens these institutions place on the government, with PIA’s losses surpassing nine hundred billion rupees and annual government subsidies amounting to fifty billion rupees.
According to Pasban Democratic Party, Hashmi criticized the practice of sustaining unprofitable industries through loans and government bailouts, pointing out the inefficiency of allocating substantial public funds to cover the deficits of government-run businesses. He argued that redirecting such funds towards industrial development could significantly address unemployment issues in Pakistan, underscoring that national progress is driven by competition, not incompetence.
The party outlined several principles for the privatization process, advocating for competitive bidding and thorough valuation of entities like PIA to ensure fair market prices. Hashmi stressed the importance of safeguarding national interests, consumer rights, and employee welfare during privatization, cautioning against the creation of monopolies and the disposal of assets to favored individuals, practices that have marred previous privatization efforts.
Before privatizing PIA, the Pasban Democratic Party suggests the formulation of a comprehensive air business policy and the establishment of a regulatory body to oversee airline ticket pricing. Additionally, it proposes that the Roosevelt Hotel be excluded from any privatization deal and that PIA be segmented into separate entities for maintenance, catering, and air travel to be privatized individually. The party also calls for a compensation plan for employees, including a year’s salary in the event of dismissal, to protect their rights during the transition.
This stance by the Pasban Democratic Party reflects a broader critique of government management of commercial entities and a push towards a privatization model that prioritizes efficiency, competition, and the welfare of stakeholders involved.