Federal Minister for Privatization Abdul Aleem Khan Thursday announced that 10 prominent companies have expressed their interest in the privatization of the national airline, PIA, and have requested a 15-day extension to submit their applications.

Abdul Aleem Khan said a 15-day extension has been granted and clarified that there will be no further extension in submitting statements to PIA.

The federal minister revealed that three local airlines also want to form a consortium with international companies for PIA privatization.

He stated that those who suffered Rs830 billion in losses to PIA are unable to see the benefit of privatization. "Privatization of all loss-making institutions is a priority," Abdul Aleem Khan said.

He further mentioned that steel mills, PIA, and Discos (distribution companies) have become burdens on the economy.

Abdul Aleem Khan emphasized the role of harmful institutions in halting Pakistan's development.

"The combined share of all airlines is less than that of PIA," the Privatization Minister stated.

PIA has routes such as Jeddah, Madinah, China, and Hong Kong. PIA operates direct flights to London, Washington, and Toronto. He said PIA will become profitable once new planes arrive.

The Privatization Minister assured that the privatization process of PIA will be 100% transparent and open to the media.

The Privatization Minister assured that PIA employees will not face any issues with the privatization of the national carrier.

"Pakistan has the best pilots and crew in the world," he added.

In response to a statement by PPP Chairman Bilawal Bhutto Zardari opposing privatization, Abdul Aleem Khan said that Bilawal Bhutto and the PPP love Pakistan, and he will meet the PPP chairman to convince him.

Abdul Aleem Khan mentioned that the government will save billions of losses from government institutions by privatizing them and suggested that this money could be spent on welfare projects.

"Losing Rs400 billion to Rs500 billion annually is unjust," he emphasized.

The ministry stated that the government also aims to privatize six to seven Discos. The Privatization Minister said that only three Discos of strategic importance want to remain under government control.

"The First Women Bank, HBFC, and electricity companies will also be privatized," the Privatization Minister concluded.