Says PIA to achieve new heights following privatisation

Prime Minister Shehbaz Sharif, Field Marshal Syed Asim Munir and cabinet ministers witness the exchange of documents between the government and the Arif Habib Consortium about privatisation of the PIA in Islamabad. Photo: Express

** ISLAMABAD: **

Prime Minister Shehbaz Sharif on Thursday reaffirmed Pakistan’s commitment to strengthening trade and economic cooperation with the European Union (EU), particularly through the Generalised Scheme of Preferences Plus (GSP+) preferential trade programme.

Speaking after a meeting with EU Ambassador to Pakistan Raimundas Karoblis at the PM House, the prime minister emphasized that Pakistan is dedicated to working closely with the EU on mutually beneficial trade enhancement initiatives. The GSP+ scheme offers developing countries preferential access to European markets in exchange for commitments on sustainable development, good governance, human rights, labor rights, and environmental protection. Eligible countries are required to implement 27 international conventions covering these areas, and in return, the EU reduces import duties to zero on more than two-thirds of the tariff lines applied to its exports. Pakistan is currently one of only eight countries benefiting from this scheme.

Prime Minister Shehbaz noted the vital role of the GSP+ programme in boosting Pakistan-EU trade and pledged the government’s full support to enhance trade relations under the scheme. He also highlighted Pakistan’s broader commitment to strengthening cooperation with the EU across multiple areas of mutual interest, including investment, development, security, migration, and climate change.

Ambassador Karoblis, who assumed his post a few months ago, expressed appreciation for the warm reception since his arrival and reaffirmed the EU’s dedication to deepening engagement with Pakistan. He stressed that trade promotion under the GSP+ programme and broader commercial initiatives remain a priority for the EU. The ambassador also welcomed the upcoming first EU-Pakistan Business Forum, scheduled for April, as a platform to further enhance bilateral business and investment ties.

The prime minister referred to the outcome of the seventh Pakistan-EU Strategic Dialogue, held in Brussels last November under the leadership of Deputy Prime Minister and Foreign Minister Senator Ishaq Dar. During the dialogue, both sides reiterated their commitment to expanding trade and investment links, particularly through the GSP+ scheme, and emphasized sustained collaboration on economic, security, and developmental fronts.

PIA privatisation

In a separate development, Prime Minister Shehbaz Sharif said the Pakistan International Airlines (PIA) is set to achieve new heights under the leadership of the Arif Habib Consortium, which recently acquired the national carrier as part of the government’s privatisation initiative. Speaking at the signing ceremony for the transaction documents, the prime minister said the privatisation of PIA marks a historic step toward improving the airline’s performance, punctuality, cabin service, and professional standards.

He congratulated the nation on the successful signing of the privatisation agreement and praised Arif Habib and his team as distinguished business ambassadors of Pakistan who have contributed significantly to the country’s progress. Prime Minister Shehbaz added that the new ownership will prioritize the comfort and safety of passengers, ensuring a modern and professional airline experience.

These initiatives, he said, reflect the government’s broader strategy to enhance Pakistan’s economic growth through strategic partnerships, international trade, and modernization of key national institutions.