Turkish airline has shown interest in PIA purchase: minister

ISLAMABAD: Minister of State for Finance Ali Pervaiz Malik on Sunday said that a Turkish airline has shown an interest in the purchase of Pakistan International Airlines (PIA).

Talking in Geo News programme ‘Naya Pakistan’ to host Shahzad Iqbal, he said that investments will continue to come as macroeconomic stability comes.

He said that imminent completion of IMF programme was around the corner. “This programme will open the doors for Pakistan with global financial institutions, creating numerous opportunities,” he noted.

The minister said, “As long as there is no stability in the political environment and no decrease in the political temperature, we may not be able to show progress in different sectors of economy. All of us should respect the state institutions. We should help each other to solve the problems of the people of Pakistan.”

He said that the country was on the brink of achieving significant economic stability. The government has successfully navigated various economic hurdles and steered the country away from the brink of bankruptcy. He said, “If income is increasing, the loan amount is not a problem. The prime minister said to FBR that he was ready to give FBR whatever resources it needed as it should increase its capacity. Today we need good governance, modern techniques, automation. This burden should not fall on only 3 million people. This burden should be shouldered by 30 million people.”

He outlined the government’s ongoing efforts to implement vital reforms, which are essential for correcting and stabilising the economy. The government was enhancing tax collection through the Federal Board of Revenue (FBR) by leveraging enforcement measures and focusing on automation and digitalisation to expand the tax net.

He mentioned that additional revenue measures were being introduced, including capacity-building initiatives within the FBR to bolster tax revenues. The government is committed to creating an environment conducive for investors.

He said political stability was necessary for economic progress. “One party does not want this country to move forward; they act against national progress for their own political gains,” he said. He urged politicians to set aside personal ambitions and work together.