Govt to utilize dead assets of loss incurring institutions: Fawad Chaudhry

October 1, 2018 (MLN): Federal Minister for Knowledge and Broadcasting Fawad Chaudhry has said that the government intends to utilize the assets of massive loss-incurring state institutions like the Pakistan International Airlines, Steel Mills, PTV News and Radio Pakistan, in order to implement a comprehensive reforms agenda to steer the country out of economic and administrative challenges.

He said this during a ceremony organized by the defunct Alliance for the Restoration of Democracy’s information secretary Munir Ahmad Khan on Sunday, 30th September.

To bolster his stance on the issue, he affirmed that PIA was facing annual losses of up to Rs. 45 billion, whereas PTV News and Radio Pakistan were incurring yearly losses of Rs. 1.25 billion and Rs. 0.5 billion respectively.

Therefore, in order to counter these losses, the government wants to inject the earned resources into these institutions by utilizing their dead assets, he added.

The minister said the middle-class section of the country is not satisfied with the current state of health, education, security and other facilities available in the country, and expects the PTI government to break the existing status quo in the country.

He said the government intends to carry out austerity measures to prevent itself from seeking out loans from international organizations like the previous governments did.

Prime Minister Imran Khan started auctioning PM House’s luxury vehicles and buffaloes as a sign of austerity measure before asking the nation to avoid luxuries, he added.  

He said the country is currently facing a massive debt of Rs. 28 trillion as a result of wrong choices and decisions taken by the former governments led by Pervaiz Musharaf, Asif Zardari and Nawaz Sharif.

Mr. Chaudhry said PM Khan wants to “transform Pakistan into a peaceful and green country, where people could get decent health and education facilities and nobody should die for want of clean drinking water”.

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Posted on: 2018-10-01T12:21:00+05:00