Pakistan Likely To Privatise Its National Flag Carrier PIA By August: Report

Pakistan is likely to privatise its national flag carrier— Pakistan International Airlines (PIA) by first week of August, reports said on Wednesday.

The move to privatise PIA has been on top of the agenda of the country’s government after the groundwork was completed by the caretaker government that was in place to organize elections.

According to the PTI report, six companies have been shortlisted for the privatization of the national flag carrier—PIA.

The shortlisted companies have sought details related to PIA and asked for time till July to review the financial issues of the national airline, the report said.

Meanwhile, the authorities are providing the required information to the consortium of shortlisted companies.

Earlier, a consortium of six companies has been pre-qualified for privatizing Pakistan International Airlines (PIA).

The report said the companies that lie in the pre-qualified consortium will now be eligible to participate in the bidding process for the PIA.

The decision was made during the Privatisation Commission Board meeting this week which was chaired by Privatization Minister Aleem Khan, who emphasized the government’s commitment to ensuring a transparent and efficient privatisation process for all loss-making state-owned companies, report said.

It added to maintain transparency and foster confidence, Khan proposed broadcasting the privatisation proceedings live on media platforms to assure all stakeholders about the integrity of the process.