Will Govt Make Citizens Pay for New PIA Planes?
Finance Minister's Adviser Khurram Schehzad has rejected claims that the administration is arranging a loan for Pakistan International Airlines (PIA).
Finance Minister's Adviser Khurram Schehzad has rejected claims that the administration is arranging a loan for Pakistan International Airlines (PIA).
Article outline
- What happened
- Official response
- The details
- The bottom line
Key points
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- Earlier, Finance Minister Muhammad Aurangzeb met with US EXIM Chairman John Jovanovich.
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- He remarked the US Export-Import Bank (US EXIM) can provide financing to foreign buyers of US-made aircraft, including airlines, through commercial structures.
- The administration has not unveiled any sovereign guarantee, public loan or state-backed financing for PIA.
In a post on X on Sunday, Schehzad remarked no public loan or taxpayer-funded financing has been unveiled and the administration is only helping PIA access international financing options after its privatization. PIA Fined Over Rs. 1 Crore for Delayed Baggage Delivery.
He remarked the US Export-Import Bank (US EXIM) can provide financing to foreign buyers of US-made aircraft, including airlines, through commercial structures. The financing can be secured against the aircraft itself, so a sovereign administration guarantee is not automatically required.
Meanwhile, the administration has not unveiled any sovereign guarantee, public loan or state-backed financing for PIA.
Earlier, Finance Minister Muhammad Aurangzeb met with US EXIM Chairman John Jovanovich. The session covered potential financing for PIA aircraft, along with refinery upgrades and the Reko Diq mining project.
While private businesses produce investments and take commercial decisions, schehzad remarked the government's role is to facilitate access to international financing and suppliers.
He remarked privatizing PIA does not prevent the administration from helping the airline access international financing. Stay Connected with ProPakistani.
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In short, will Govt Make Citizens Pay for New PIA Planes? Is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.
