Pakistan and the United States have signed a memorandum of understanding (MoU) to jointly redevelop the landmark Roosevelt Hotel in New York, marking a new phase in bilateral economic cooperation, according to officials. Read More: Govt halts HBFC privatisation, reopens Roosevelt Hotel deal Pakistan’s Ministry of Finance said in a post on X that both governments […]
privatization
Venezuela opens oil sector to private firms in historic overhaul
CARACAS: Venezuela’s acting president, Delcy Rodríguez, has signed into law a sweeping reform of the country’s oil industry that opens the sector to private and foreign investment, marking a decisive break from decades of strict state control under socialist rule. The legislation was approved by the National Assembly on Thursday and signed by Rodríguez soon […]
PIA Deal at 135 Billion: Reform, Risk, or Ruin?
Arif Habib has reportedly bought Pakistan International Airlines in a deal valued around 135 billion rupees — and whether this turns into salvation or a fresh disaster is a question that now hangs heavy in the national air. Because Pakistan International Airlines was never just an airline. It was once the soaring embodiment of national […]
Google plans to make Pakistan an export hub: Aurangzeb
KARACHI – Federal Finance Minister Muhammad Aurangzeb revealed on Wednesday that Google plans to make Pakistan an export hub, as the government continues to push for production-driven and private sector-led economic growth. Speaking at the Future Summit in Karachi, the finance minister said Pakistan’s economy is “moving in the right direction,” emphasizing that sustainable, production-based growth […]
Pakistan’s economy on right track, says finance minister
ISLAMABAD – Federal Finance Minister Muhammad Aurangzeb on Monday said Pakistan’s economy is stabilizing and reforms across major sectors are paving the way for sustainable growth. He emphasized that global rating agencies have recognized the country’s economic stabilization, adding that IMF staff-level agreements validate this progress. Aurangzeb noted that policy rate reductions have positively impacted […]
Aurangzeb Highlights Reform Momentum
ISLAMABAD – Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb continued his fifth day of engagements in Washington, D.C., where he is attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group. During his meeting with World Bank President Ajay Banga, Aurangzeb discussed Pakistan’s flood recovery efforts and appreciated […]
Beyond Privatization
For decades, Pakistan has struggled under the weight of inefficient state-owned enterprises and overstretched public services. Schools with missing teachers, hospitals short of medicines, airports that barely function, and a railway system running perpetual losses. It does not have to be this way. Around the world, governments have discovered a middle path between full privatisation […]
Pakistan restarts PIA privatization: New bidding process announced
The government of Pakistan has relaunched the privatization process for Pakistan International Airlines (PIA). The Privatisation Commission (PC) is inviting new bids for a majority stake in the airline. Interested investors must submit their bids by June 3, 2025. A non-refundable processing fee of $5,000 or Rs1,400,000 is required. This move follows last year’s failed […]
Elon Musk proposes privatization of USPS and Amtrak
Elon Musk has proposed privatizing both the U.S. Postal Service (USPS) and Amtrak, arguing that government services capable of being privatized should be. Speaking at a Morgan Stanley conference, Musk named these two services as prime examples. His remarks come after President Trump suggested merging USPS with the U.S. Commerce Department, a plan criticized by […]
Soomro suggests provincial finance commissions for equitable distribution of resources
ISLAMABAD: Federal Minister for Privatization Muhammad Mian Soomro on Wednesday stressed the need for formulating provincial finance commissions in order to ensure equitable distribution of resources among the under privileged areas to bring them at par with developed areas. Addressing a press conference along with Minister for Inter-Provincial Coordination Dr Fehmida Mirza, he asked for […]