Selling national assets to foreign buyers at remarkably low prices is not the solution to Pakistan’s economic challenges. At present, the Pakistan Army is running a number of institutions under the umbrella of the Army Foundation, the Army Welfare Trust. All these institutions are profit-making institutions.
There is an alternative approach to addressing the financial woes of entities like Pakistan International Airlines (PIA) and Pakistan Steel Mills. It would be in the best interest of the nation to transfer the management of loss-making units such as PIA and Steel Mills to the Pakistan Army.
Given the track record of profitability demonstrated by army-run institutions, it is reasonable to expect a turnaround in the fortunes of these entities under military management. Selling of national assets to foreign buyers at a throwaway price beyond comprehension.
Preserving national resources and promoting local manufacturing industries are of great importance for the country’s growth and progress.
Moreover, the federal government should support local manufacturing industries aims to generate domestic and foreign revenues by way of selling quality products at a competitive rate, drastic cutting of considerable import bills, increase sizeable exports to international markets to earn precious foreign exchange to ensure timely payments to the foreign creditors, improve in GDP and per Capita income thus providing expected relief to the common man by the Federal and the provincial governments.
One more thing I would like to highlight is that due to the suspension of flight operations by the national career, the other airlines are making hey while the sun shines. The unbridled fares of these airlines should be checked and caped to arrest the unhealthy practice of minting money and to save the passengers from paying forced fares at the sweet will of airlines.
As stakeholders weigh various strategies to address these issues, voices advocating for prudent management of national assets and support for local industries are gaining prominence.
