Cash-strapped Pakistan is expected to privatise its national airline by the first week of August. Image credit: ANI
The much-awaited privatisation of Pakistan International Airlines (PIA) had been on the government’s agenda ever since the caretaker government set up to organise the elections completed its mandate.
Six companies have been shortlisted to privatise the national airline, private television channel ARY News reported Cash-strapped Pakistan is expected to privatise its national airline by the first week of August, media reports said on Wednesday.
The shortlisted companies have demanded documents related to PIA and sought time till July to assess the national carrier’s financial affairs.
Meanwhile, authorities are providing important information to the shortlisted consortium.
It is important to mention here that a consortium of six companies has been pre-approved to privatise Pakistan International Airlines (PIA).
According to this information, companies included in the pre-qualified consortium will be eligible to participate in the PIA bidding process.
The decision was taken at a Privatisation Committee board meeting this week, chaired by Minister of Privatisation Aleem Khan, who underscored the government’s commitment to ensuring a transparent and effective privatisation process for all loss-making state-owned enterprises.
Khan recommended live media coverage of the privatisation proceedings to ensure transparency and instil trust and satisfy all parties involved about the integrity of the process.
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