Islamabad [Pakistan], June 26 : The long-awaited privatisation of Pakistan International Airlines (PIA) is expected to take place in early August 2024, ARY News reported
According to the sources, a total of six companies have been shortlisted for the privatisation process, and these companies have requested detailed information about PIA.
The shortlisted companies have asked for time till July to review the financial issues of the national airline, as per ARY News.
Meanwhile, the authorities are providing the required information and data to the consortium of shortlisted companies.
According to ARY News, it is pertinent to mention here that a consortium of six companies has been pre-qualified for privatizing Pakistan International Airlines (PIA).
The companies that lie in the pre-qualified consortium will now be eligible to participate in the bidding process for the PIA, as per the details,
These decisions were made during the Privatisation Commission Board meeting, chaired by Federal Privatization Minister Aleem Khan.
During the meeting, Aleem Khan reiterated the administration's unwavering commitment to ensuring a transparent, efficient privatization process for all state-owned enterprises that are incurring significant losses.
In order to maintain the highest level of transparency, and foster confidence among stakeholders, Khan suggested broadcasting the privatization proceedings live on various media platforms.
Earlier in the month of April, Finance Minister Muhammad Aurangzeb emphasised on the PIA privatisation process and said that it is expected by the end of June or early July, with Islamabad airport potentially following suit shortly after, Dawn reported.
During a news briefing at the Pakistan Embassy, Washington DC, Aurangzeb said, "We expect the bids for PIA to come in the next two to three weeks, and by the end of June or early July, we can move it to the investors," he said. "The Islamabad airport would be the next," he added, "followed by the airports in Karachi and Lahore."
The Privatisation Commission will decide on the number of shares the government will sell as it nears the conclusion of the PIA privatisation process, Coordinator to Prime Minister Shahbaz Sharif on Economy and Energy, Member of the National Assembly of Pakistan, Bilal Azhar Kayani said during his appearance on ARY News show 'KHABAR.'
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