According to a statement issued by the privatization ministry on Wednesday, the government plans to publish a new ad asking new bidders for the privatization of Pakistan International Airlines (PIA) the following week.
During a meeting on February 26, the National Assembly Standing Committee on Privatization was told that an earlier attempt to privatize the national airline had failed and cost the government $4.3 million.
Privatization Minister Abdul Aleem Khan stated in a statement in March that the government plans to finish all the processes necessary for the privatization of PIA by May. Since then, a revised transaction structure for the process has been approved by the privatization commission, which calls for the sale of 51–100% of the airline’s shares. Muhammad Ali, the commission’s chairman and the Prime Minister’s adviser on privatization, presided over a meeting of the privatization commission today, according to the ministry’s statement.
The statement stated that the Board has approved the pre-qualification standards for choosing prospective bidders for the sale of 51 percent to 100 percent of Pakistan International Airlines Corporation Limited (PIACL) shares.
“Next week, a new expression of interest advertisement for PIACL’s demerger is scheduled to be published.”
Additionally, it stated that the conference will reconvene tomorrow “to consider the remaining items on the agenda.”
