IMF Approves Removal of 18% GST on PIA Aircraft

The National Assembly Standing Committee on Privatization was informed that the International Monitory Fund (IMF) agreed to remove 18 percent GST on aircraft and clean up Rs. 45 billion of Pakistan International Airline Company Limited (PIACL) ‘s negative equity. The Committee was further informed that it was decided to capitalize on the positive momentum generated by IMF’s consent on critical asks, opening up of European routes, and to avoid further loss to the national exchequer; it was decided to go for fresh Expression of Interest (EOI) at the earliest. The 5th meeting of the Standing Committee on Privatization was held Thursday in Committee Room No. 2, Parliament House, under the chairmanship of Muhammad Farooq Sattar, MNA. The Committee discussed the Privatization Commission (Amendment) Bill, 2024, and decided to defer the same. The Committee appointed a Sub-Committee under the Convenership Sehar Kamran, MNA to look into the reasons for the decline of Pakistan International Airline Company Limited (PIACL). The Sub-Committee comprises Khawaja Sheraz Mehmood,  Saba Sadiq, and  Asia Naz Tanoli, MNAs. The Sub-Committee should submit its report to the Standing Committee within 30 days. The meeting was attended by MNAs Muhammad Usman Awaisi, Asia Naz Tanoli, Saba Sadiq, Nazir Ahmed Bhugio, Nouman Islam Shaikh, Khawaja Sheraz Mehmood, Mehboob Shah, Moulana Abdul Ghafoor Haideri and officers from Ministry of Privatization and SLICP. Two MNAs Ms. Sehar Kamran and Arshad Abdullah Vohra attended the meeting via video link.