Karachi [Pakistan] December 29 (ANI): Jamaat-i-Islami (JI) leader Hafiz Naeemur Rehman expressed his disapproval of the recent privatisation of Pakistan International Airlines (PIA), asserting that it is a strategic asset that should not have been sold, as reported by Dawn.

During a press conference at the party's Idara Noor-i-Haq headquarters, he stated that PIA represents national pride and that its privatisation will be a grave error by the government.

'It is shameful to sell national institutions due to the government's inability to manage them,' he remarked.

'What caused PIA to become unprofitable? The PML-N, PPP, PML-Q, and PTI share direct responsibility for its decline. Over the last three to four decades, all administrations, along with some military personnel appointed to oversee the airline, mismanaged PIA through fraudulent appointments, corruption, and inadequate oversight. Consequently, PIA was severely weakened. Without holding those accountable, it should not have been sold,' he said, as cited by Dawn.

He emphasised that PIA had been divided into two entities, with much of the financial losses transferred to PIA Holdings.

In contrast, the other entity reported a profit of approximately PKR 10 billion from January to June.

'We do not oppose the bidders, but we hold the government accountable for its mismanagement,' he stated, mentioning that a used Airbus A320 typically costs around PKR 10 billion. Yet, the government sold the entire airline for the same sum.

He argued that the reported PKR 135 billion figure is misleading, as over 90 per cent of it was earmarked by private owners for reinvestment in their own airline and had no connection to the national treasury or the privatisation process. He noted that PIA possesses 78 landing rights worldwide, including in Europe. The assets and reputation of PIA far exceed the sale price at which the national flag carrier was sold, he concluded, as noted by Dawn.

He also raised questions regarding the nature and status of the Fauji Foundation. 'Is it a private organisation? Is it a public limited company, or is it associated with an institution? And if so, does that institution belong to the state?' he enquired, ultimately stating that the government, directly or indirectly, was on the verge of transferring a state-owned enterprise to another state-owned enterprise.

'So, where is the privatisation?' he asked. Meanwhile, builders are holding press conferences seeking protection from extortionists. This reflects the current state of affairs in the country. Due to poor governance, institutions are being corrupted and exploited, after which the government proudly announces that the nation has rid itself of them through privatisation, Hafiz Naeem added, as quoted in the Dawn report. (ANI)