The federal government has announced to re-solicit bids for the privatization of Pakistan International Airlines (PIA).
On Monday, in the Senate Standing Committee on Privatization meeting chaired by Senator Talal Chaudhry, Co-Privatization Minister Abdul Aleem Khan announced that he will seek bids again for the privatization of PIA.
On this occasion, Secretary Privatization Commission Usman Bajwa said that ‘If we go to bids again, it will be a short process, during the first process of privatization of PIA, a lot of work has been done.’
Privatization Minister Abdul Aleem Khan said that Prime Minister Shehbaz Sharif is focusing on re-privatization of PIA, what we have learned from this will give some good news on privatization in the future, PIA will become a profitable institution. has full potential, I still say PIA can become a profitable enterprise.’
He added that ‘if PIA is to be sold, the government will have to take a big heart’.
In the Senate Standing Committee on Privatization meeting presided over by Senator Talal Chaudhry, the matter of lack of interest of the buyers for the privatization of PIA was also discussed and the reasons for the bid being several times lower than the amount fixed by the government were also discussed.
While briefing the committee, Federal Minister for Privatization Abdul Aleem Khan said that the process of privatization of PIA was started on November 28, 2023. , we parked PIA’s 623 billion arrears in a holding company.’
He further said that ‘we parked the remaining 200 billion with PIA, there was a deficit of 45 billion at the time of privatization.’
Privatization Commission: PIA’s 10 billion bid rejected
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Earlier on November 13, 2024, the Privatization Commission Board had recommended rejecting the Rs 10 billion bid made by Blue World City Consortium last month to acquire 60 percent stake in PIA. .
In the high-level meeting of the Privatization Commission Board chaired by Federal Minister for Privatization, Board of Investment and Communications Abdul Aleem Khan, it was decided to refer the issue of privatization of PIA to the Cabinet Committee.
The Board also considered the future plan for privatization of PIACL and considered various options for its early privatization.
In the statement issued by the Ministry of Privatization, it was said that various issues, including the privatization of PIA, were discussed in the meeting and important recommendations were approved.
In the Privatization Board meeting, it was decided to form a three-member committee to participate in the process of privatization of the members.
Federal Minister Abdul Aleem Khan said that ‘Privatization matters must be completed in accordance with the laws and regulations and keeping the country’s interest in front because the cabinet committee has to take the final decision on the privatization of PIA and other institutions.’
