I would greatly appreciate it if my suggestions, which are in the best national interest, could capture your kind attention and consideration. Currently, the Pakistan Army oversees several institutions under the umbrella of the Fauji Foundation and Army Welfare Trust, all of which are profit-making entities.
It would be prudent for Pakistan to consider taking over loss-making units, such as PIA and Pakistan Steel Mills, which are a burden on the national exchequer. I am confident that these loss-making entities can be transformed into profitable units under the management of the Pakistan Army. Selling national assets to foreign buyers at giveaway prices is beyond comprehension.
Furthermore, the federal government should support local manufacturing industries, aiming to generate both domestic and foreign revenues by selling quality products at competitive rates. This would lead to a significant reduction in substantial import bills, an increase in substantial exports to international markets, and the acquisition of precious foreign exchange. This, in turn, would ensure timely payments to foreign creditors, improve GDP and increase per capita income, ultimately providing the expected relief to the common man by both the federal and provincial governments.
I would like to draw your attention to another pressing concern: the suspension of flight operations by the national carrier has allowed other airlines to take advantage of the situation by charging exorbitant fares. This unhealthy practice must be addressed urgently. The unrestrained fares of these airlines should be closely monitored and capped to protect passengers from being forced to pay exorbitant fares at the whims of airlines.
In conclusion, I hope that our leaders and policymakers make decisions that are in the best interest of our nation. Prudent asset management, support for local manufacturing and fair airfare practices can significantly contribute to Pakistan’s economic well-being. Let us work together to build a stronger and more prosperous future for our beloved country.
The writer is Former Federal Minister of Industries and Production & Former Chairman/Managing Director, PIA
