Cabinet Approved Restructuring of PIA

Cabinet Approved Restructuring of PIA and Privatization of First Women Bank.

Pakistan International Airlines Restructuring Approved, First Women Bank Privatized: Key Cabinet Decisions

The Pakistani Cabinet has approved several key decisions with potential significant impacts on the country’s economy and industries.

Here’s a breakdown of the major announcements:

PIA Restructuring:

Two-Company Structure: PIA will be divided into two entities: Top-Co, handling core operations like flight operations and ground handling, and Hold-Co, managing non-core assets like subsidiaries and properties.
Attracting Investors: This move aims to make PIA more attractive to capital investors, potentially leading to financial improvements.
Privatization Potential: While not explicitly stated, this restructuring could pave the way for future privatization of certain PIA assets.

First Women Bank Privatization:

Government Exits Ownership: The cabinet approved the privatization of First Women Bank Limited, further opening up the country’s financial sector.
Details Unknown: Specific details about the privatization process and potential buyers are yet to be disclosed.

Deregulation of Medicine Prices:

Exempting Non-Essential Medicines: Prices of certain medicines not included in the national list of essential medicines will be deregulated.
Changes to Drug Pricing Policy: Amendments to the Drug Pricing Policy 2018 are expected to facilitate this deregulation.
Concerns about Accessibility and Affordability: Potential impacts on medication affordability and accessibility for certain patient groups raise concerns.

Additional Cabinet Decisions:

Approved Economic Coordination Committee (ECC) decisions from February 1st, 2024 (details not provided).

The Pakistani Cabinet has approved several appointments, foreign awards, and changes within the legal system. Here’s a summary:

Military Appointments:

Lt. General Tahir Hameed Shah: Appointed as member and chairman of the Pakistan Ordnance Factories Board, effective November 29, 2023.

Foreign Recognition Awards:

Major Abid Mansoor Khan: Awarded “Note-e-Shujaat” and “Note-e-Sharf” from Saudi Arabia’s Ministry of Defense.
Protocol Officer Mohammad Ashraf Khan: Awarded a gold medal from the Austrian government.
Air Commodore Syed Imran Ali: Awarded the “Defense Cooperation Award First Class” from Japan.

Legal System Changes:

Peshawar High Court: Four of eight accountability courts converted into special courts, with remaining courts continuing their functions.
Judge Appointments: Judges for the new special courts approved based on Chief Justice’s proposal.
Financial Impact: Changes deemed not to incur additional costs on the national exchequer.

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