F.P. Report
LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI), regional Chairman Chaudhry Irfan Yousaf has said that the FPCCI is in favor of the privatization of Pakistan International Airlines (PIA) and the Pakistan Steel Mills (PSM).
He termed that the step towards privatization of these two state run institutes will increase in GDP.
Chaudhry Irfan Yousaf said this while addressing to the oath taking ceremony of newly elected office-bearers of Lahore Economic Journalists Association (LEJA) here at FPCCI Regional Office.
He added that privatization of low performing entities was burden on national exchequer and it is necessary to privatize those departments for the betterment of the government and masses.
Yousaf further added that government is not affording the loss Rs 150 million from the PIA and similarly the PSM is also in the loss and country’s economy could not afford loss-making institutions.
He added that PIA and PSM had resulted in the creation of huge financial liability for the government on annual basis, citing that privatization would improve operational and financial performance of the entities.
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