PM expresses satisfaction over PIA privatization, economic progress

ISLAMABAD: The federal cabinet meeting chaired by Prime Minister Muhammad Shehbaz Sharif was held at the Prime Minister’s House today.

In the meeting, the Prime Minister said that the privatization of 75 percent of PIA shares was completed very successfully and the bidding process was transparent.

The government has made the privatization of state-owned loss-making enterprises part of its vision for economic reforms, and the privatization of PIA is an important milestone in this regard.

The Prime Minister also said that the significant increase in the country’s GDP in the first quarter of the current fiscal year is welcome, and the government has brought the country back from the brink of default and brought it to economic stability.

The Prime Minister, mentioning his recent meetings with UAE President Sheikh Mohammed bin Zayed Al Nahyan and his telephone conversation with Saudi Arabia’s Crown Prince Mohammed bin Salman, expressed satisfaction with the pace of economic and strategic relations between the two countries.

The Federal Cabinet also ratified the decisions of several previous meetings, including the ratification of the decisions taken in the meeting of the Cabinet Committee on Legislative Cases on December 30 and December 3, 2025, including the action taken with respect to the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025.

Ratification of the decisions taken in the meeting of the Economic Coordination Committee on August 26, 2025, including the decisions to provide relief to consumers under the Off-Grid (Captive Power Plant) Levy and to formulate a strategy.

Approval of the action taken for the issuance of a Presidential Decree amending the Off-Grid Levy Act, 2025, regarding the sale of gas to Off-Grid Captive Power Plants on the recommendation of the Petroleum Division.