Federal Minister for Finance and Revenue Muhammad Aurangzeb on Wednesday said the government is working on privatization of sick units and power sector reforms.

Talking to a private television channel, he said privatization of Pakistan International Airlines (PIA) and three power distribution companies would be completed before the end of this year.

The Minister said outsourcing of Islamabad and Karachi airports would be made in phases. He said right sizing and restructuring of some ministries and departments would also be made before the next fiscal year.

In reply to a question about the issue of Independent Power Producers (IPPs), he said discussion is being held with the Chinese authorities regarding re-profiling of debt.

The Finance Minister said all out measures are being taken to strengthen the economy of Pakistan.