FPCCI hails PIA, PSM sell-off plan

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has welcomed the decision to privatise two major loss-making state-run entities, Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM), a statement said on Monday.

Talking to the Lahore Economic Journalists Association (LEJA) members after the oath-taking ceremony of the newly-elected body at the FPCCI Regional Office Lahore, Ch Arfan Yousaf, regional chairman and vice president of the FPCCI appreciated the positive approach of Prime Minister Shahid Khaqan Abbasi, and said PIA and PSM had not only resulted in the creation of huge financial liability on an annual basis for the government, but also enhance the operating and financial performance of the entities by exposing them to market forces.