Asian – Dispatch

• Jet Green Private Limited moves toward operational readiness after decade-long regulatory hurdles resolved
• Government says approval fast-tracked through special investment council created to unlock stalled projects

KARACHI: Pakistan has cleared the way for a new $30 million private airline to begin operations after years of regulatory delays, the country’s Special Investment Facilitation Council (SIFC) said on Monday.

Jet Green Private Limited was now moving toward operational readiness after authorities resolved licensing and certification hurdles that had kept the project stalled for nearly a decade, according to the investment council.

Pakistan’s aviation sector has struggled for years with financial stress, regulatory bottlenecks and safety concerns following the 2020 crash of a Pakistan International Airlines aircraft in Karachi, which triggered international scrutiny of the country’s pilot licensing standards and aviation oversight.

The government has recently pushed to revive investor confidence and attract private capital into sectors including aviation, mining, energy and information technology through the SIFC, a civil-military investment body established in 2023 to fast-track strategic projects and reduce bureaucratic delays.

“Pakistan’s aviation sector is set for renewed momentum as the Special Investment Facilitation Council (SIFC) successfully fast-tracked decade long pending approvals for M/s Jet Green Private Limited, paving the way for the USD 30 million airline project to move toward operational readiness,” the council said in a statement, which did not give a date for the airline’s launch. 

The SIFC said it coordinated across relevant institutions to facilitate aviation licensing, safety vetting, commercial permits and airline certification.

“With all major approvals now secured, Jet Green is transitioning from the ‘file stage’ to operational readiness, marking the entry of a new private airline into Pakistan’s aviation market,” it added.

The council said the airline’s entry was expected to improve competition, raise service standards and create jobs across the aviation and allied sectors.

Pakistan’s aviation market has historically been dominated by state-owned Pakistan International Airlines and a small number of private carriers, though the sector has faced repeated operational and financial challenges in recent years.

The government says the SIFC has helped accelerate decision-making on delayed investment projects as Islamabad seeks to stabilize the economy under an IMF-backed $7 billion reform program and improve foreign investment inflows.

Source: Arab News