Caretaker govt approves PIA’s restructuring, privatisation of FWBL | Maqvi News

Interim PM says govt fulfilled its responsibilities to create conducive environment for elections n PIA will be bifurcated into two companies, federal cabinet told n PMDC will ensure doctors do not prescribe vitamins, multivitamins.

ISLAMABAD  –  The federal cabinet Tues­day approved restruc­turing of Pakistan In­ternational Airlines and privatisation of the First Women Bank Limited.

The cabinet which met in Islamabad with Care­taker Prime Minister An­waarul Haq Kakar in the chair also consented ap­pointment of a financial advisor for financial and administrative reorgan­isation of PIA.

The cabinet was in­formed that PIA will be bifurcated into two companies namely Top­Co and HoldCo. 

Basic engineering op­erations, ground han­dling, cargo, flight kitch­en and training will be attached with TopCo, while departments like PIA Investment, Precision Engineer­ing Complex and other subsidiaries as well as properties will be put under HoldCo. These measures will help at­tract investors to PIA.

Besides, the cabinet directed its sub-com­mittee on Privatisation 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. Apart from this, the pro­posal of Chief Justice Pesha­war High Court has been approved regarding the ap­pointment of judges in these courts. The remaining courts will continue to function as accountability courts. These changes will not put any ad­ditional burden on the na­tional exchequer. The fed­eral cabinet approved the de-regulation of prices of medicines which are not in­cluded in the National List of essential medicines. Un­der these proposals, pric­es of medicines other than essential ones will be ex­empted from the Drugs Act, 1976 and necessary amend­ments will be made in the Drug Pricing Policy 2018. Pakistan Medical and Den­tal Council will ensure that doctors do not prescribe vi­tamins, multivitamins, min­erals and over-the-counter products to patients. 

‘PEACEFUL ELECTIONS’

Caretaker Prime Minis­ter Anwaarul Haq Kakar on Tuesday said that despite numerous challenges, the best possible arrangements had been made to ensure peaceful and seamless con­duct of elections on polling day, across the country. He was talking to a delegation of the Commonwealth Ob­server Group (COG), led by former President of Nigeria Goodluck Ebele Jonathan, who called on him, PM Of­fice Media Wing said in a press release. The meeting was part of the COG’s inter­action with various stake­holders ahead of the up­coming general elections on 8th February, 2024. The prime minister wel­comed the COG delegation and said that Pakistan was proud to honour its com­mitment as a Common­wealth member state by inviting independent inter­national observers to wit­ness the general elections. He also highlighted that the caretaker government had fulfilled its responsibilities to run the day-to-day af­fairs of the state and create a conducive environment ahead of the elections.