Pak govt expedites PIA's privatisation; prepares framework for division of assets and liabilities
Islamabad (PTI): Cash-strapped Pakistan is expediting the privatisation process of its ailing national flag carrier, PIA, and has prepared a framework for the division of its assets and liabilities as part of the move, according to a media report on Monday.
The government has disclosed that the total value of the assets of Pakistan International Airlines (PIA) is Rs 171.43 billion. Once the privatisation process is completed, the PIA’s assets along with its liabilities will be divided between the holding company and the new company taking over the airline, The Express Tribune newspaper reported.
The PIA owes Rs 161 billion to the government and Rs 267 billion to commercial banks, which will be transferred to the holding company, the report said, citing official documents.
Out of the PIA’s assets worth Rs 171.43 billion, assets worth Rs 146.57 billion will be transferred to the new management of the PIA, while assets worth Rs 24.86 billion will remain with the holding company, it said.
The federal government is expediting the privatisation process of the PIA and has prepared a framework for the division of assets and liabilities of the national flag carrier as part of the process, it said.
Out of the PIA's Rs 830 billion deficit, Rs 202 billion will be borne by it and Rs 628 billion by the holding company. As a result, the new company will begin the PIA operations with a deficit of Rs 55.70 billion, the report said.
According to the documents seen by the newspaper, the government will divide the PIA operations into core and non-core segments as part of the privatisation process. All assets and liabilities of the PIA will be divided between these two segments.
Post-privatisation, assets including aircraft worth Rs 92.62 billion, technical equipment for flight operations, operational offices, and other properties, along with long-term deposits worth Rs 6 billion, trade debts and advance deposits worth Rs 22.35 billion, and other receivables worth Rs16.83 billion, will be transferred to the new PIA management.
Additionally, liabilities in the form of long-term financing worth Rs 15.63 billion, aircraft leases worth Rs 30 billion, employee salaries amounting to Rs 27.26 billion, and trade and other payables totalling Rs 121 billion will be inherited by the new company.
Loans taken from domestic and international institutions and the interest payable on them, amounting to Rs 444 billion, will also be transferred to the holding company.
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Delhi CM Rekha Gupta accuses Mamata Banerjee of stalling SIR; TMC hits back
Kolkata (PTI): Alleging that her West Bengal counterpart Mamata Banerjee had approached the Supreme Court to stall the SIR exercise to prevent the identification of infiltrators, Delhi Chief Minister Rekha Gupta on Sunday claimed that the people of the state have made up their minds to dislodge the Trinamool Congress from power.
The TMC countered strongly, urging Gupta to "look into her own backyard" and accused her of making absurd allegations against the TMC government without checking facts.
Addressing participants at the 'Nari Sankalp Yatra' organised by the BJP's women's wing at Science City auditorium here, Gupta alleged that the "hands-off" and appeasement policies of the TMC government had allowed thousands of infiltrators to enter the state in recent years.
She claimed that this had put a strain on basic rights such as access to water, electricity, ration, education, livelihood and the right to vote for genuine citizens.
"She wants to perpetuate this and hence is trying to stall the SIR exercise, which aims at identifying and deporting infiltrators. Imagine a chief minister going to the apex court to argue against an exercise meant to ensure free and fair polls," Gupta said.
The BJP leader alleged that appeasement politics had reached an "alarming level" under the TMC regime.
Raising concerns over women's safety, she claimed that women in the state were not secure despite having a woman chief minister.
Referring to the rape-murder of a woman doctor at RG Kar Hospital, Gupta alleged that the state government had failed to respond adequately to such crimes.
She also referred to the alleged rape of a woman medic in Durgapur and another law student on a Kolkata college campus, claiming that criminals had been emboldened to commit brutalities against women.
She alleged that in crimes against women, overall crime incidents and child marriages, West Bengal remained among the top -- "a slur on a state which once led intellectual and social movements and set examples for the rest of the country," she said.
Criticising the state government's welfare initiatives, she said schemes such as Kanyashree were built on "false claims" and asserted that women needed security rather than assurances.
Accusing the state government of blocking central schemes, Gupta alleged that funds worth "lakhs of crores of rupees" had not reached the poor due to non-implementation of programmes such as Ayushman Bharat, PM Awas Yojana and Jal Jeevan Mission by the state.
"You are only interested in renaming projects and taking credit," she said.
Gupta also alleged that the education sector in the state had been adversely affected, saying several state-run schools had closed due to a shortage of teachers and that the government was opposed to the National Education Policy.
Drawing a comparison with BJP-ruled Delhi, Gupta said, "People have already voted out 'Bhaia' (a reference to former Delhi chief minister Arvind Kejriwal). Now it is your turn to bid farewell to 'Didi'." Calling upon women to resist what she termed "strong-arm tactics", she urged them to assert their strength, invoking the imagery of Goddess Durga.
"Bengal has the right to live with dignity, and women have the right to live with dignity," she added.
Reacting to Gupta's allegations, West Bengal Women and Child Welfare minister Shashi Panja accused her of making "absurd allegations" against the Trinamool Congress government ahead of elections.
Panja alleged that during Gupta's tenure in Delhi, several incidents had raised serious concerns, including reports of missing young women and a blast near the Red Fort.
She also criticised the air pollution situation in the national capital, claiming that people were struggling to breathe.
The TMC leader said that despite being in power for a year, Gupta was making "tall claims" instead of addressing key issues in Delhi.
Panja further alleged that the Delhi CM visited West Bengal during elections to "peddle false allegations" against the state government.
Rebutting Gupta, the TMC said in a post on X said, "Madam why did you go off-script again? For your edification, here are the cold, hard facts: In total cases of crimes (IPC + SLL), Bengal ranks a respectable 15th, far safer than BJP-ruled Uttar Pradesh, Maharashtra, and Gujarat, which languish near the bottom."
"In overall crime rate, Bengal sits comfortably at 28th. Who's second? Your own Delhi. Double Engine Gujarat and Haryana grab 4th and 5th as top-tier crime havens," the TMC said.
"In child marriage, Assam again takes the shameful pole position. And yet you dare lecture Bengal? Stop embarrassing yourself, stop the hypocrisy, and maybe fix the rotting mess in your own backyard before pointing fingers at a state that's outperforming your disasters on every key metric," the TMC countered.
