Can PIA gear up for privatisation in its dire straits?
#election2024 #PIA #FarhanBukhari #economists
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Transcript
00:00 Mr. Khan, regarding the government's negligence in Pakistan,
00:05 we hear figures like PIA has 700 billion losses, Pakistan Railway has so many,
00:11 State-owned enterprises have so many, so many billion package is needed,
00:15 so this matter will be discussed.
00:20 In 2016, you did reporting, what was the reason that PM Alain was a strong government
00:26 and they had to back out?
00:28 Look, every government has had good beginnings,
00:32 but later this matter was not taken to its logical conclusion,
00:37 and this story has been repeated again and again.
00:40 And this was the case of the previous government as well.
00:43 After 2016, Nawaz Sharif's tenure as a minister ended in 2017.
00:53 After that, there was a period of one year, which was a temporary phase.
00:59 Then Shahid Khan's.
01:00 Then Shahid Khan's.
01:01 Then Imran Khan's government came from 2018, then from 2019 to 2021,
01:07 there was COVID, the whole world was in its grip.
01:10 Then in 2022, his own government left.
01:13 So, in the past, the governments that have fulfilled their time,
01:18 they also had a government of the People's Party before the government of Nawaz Sharif.
01:25 They were against it, right?
01:27 They were not responsible for it.
01:29 They should have done it in the way they wanted to.
01:35 And who is bearing the consequences of this?
01:38 The Pakistani people are bearing the consequences.
01:40 Now, look, there are more talks about the PIA's inauguration.
01:46 The government has two months left from today for the elections.
01:51 It is the date of February 8.
01:53 If the elections are held on February 8, then there will be a new government after that.
01:57 I have a lot of doubts about what happens in two months.
02:00 And after that, a new government will come.
02:03 Will it be strong enough to inaugurate the PIA and other institutions?
02:12 In reality, the last thing that comes is political and social.
02:19 That then the unions will be established.
02:21 You are absolutely right.
02:22 There are discussions about the IMF again.
02:24 So, tell us, the news is also coming that the coming government will have to go through a long IMF package again before the elections.
02:31 Absolutely, it will have to go.
02:33 And what is the discussion about the current one?
02:35 When is it going on?
02:36 I was watching in Bloomberg that the IMF board meeting will be on January 11.
02:42 Is there any delay?
02:43 No, there is no delay.
02:44 And look, the news of $700 million will come.
02:50 Because the staff level agreement with the IMF has been made with Pakistan.
02:55 And this is going to the executive board.
02:57 I don't remember ever filing a case with the executive board and being rejected from there.
03:03 It is possible that there may be some change in the conditions, but it is not rejected.
03:07 But after that, from April onwards, the extended fund facility of at least three years.
03:13 There is information in some circles that Pakistan will be required to pay $8 billion to $10 billion.
03:20 Now, what happens in the end?
03:23 Then, along with this, there is an attempt in the government circles that some money from the Middle East should come under the SIFC.
03:36 And that too should be in the country, so that your foreign debt issue is better.
03:42 And you are more successful in giving loans.
03:46 Tell me, how will we pay the $9 billion annual deficit that we have?
03:54 The burden of loans is already there.
03:56 You have to take out $9 billion from your pocket annually.
03:58 How is this possible?
03:59 How will the country run?
04:00 Unfortunately, being in debt.
04:02 Look, either you strengthen your industry and agriculture, especially, and then some extent trade,
04:09 but strengthen your industry and agriculture so that your income improves, so that you go beyond $9 billion,
04:17 your surplus situation goes away, and you come to such a point that you do not need to take more loans.
04:24 And that to some extent in Pakistan, if you look at the economic situation of Pakistan,
04:32 many people say that it is possible, especially in terms of agriculture, if you go ahead more quickly,
04:39 and at least be self-sufficient in those species that are very much needed in your country, especially wheat.
04:48 Food security.
04:49 If you have food security, then there are some shortcomings in your imports,
04:53 and if there is some improvement in your industry, especially in the textile industry, then you can increase $9-10 billion.
05:04 I was listening to our Minister of Commerce.
05:08 He was talking about taking up to $100 billion.
05:10 He was talking about $100 billion. I was thinking that…
05:13 May God do it.
05:14 What do you call it? Ghee and sugar?
05:16 But the thing is that we have heard such big leaps in the past.
05:22 [SPEAKING HINDI]
05:23 [NON-ENGLISH SPEECH]