LAHORE – Privatisation Minister, Abdul Aleem Khan has revealed a key date for the privatization of the cash-strapped Pakistan International Airlines (PIA).
Speaking at an event in Lahore on Sunday, the minister referred to October 1st as the key date for the privatization of the carrier which has been under scrutiny by the government.
Terming the national flag carrier a white elephant, the minister said the carrier had so far inflicted a loss of Rs830 billion on the national kitty.
Aleem Khan- who earlier said that the privatization would be broadcast live on television for transparency – admitted that Pakistan International Airlines (PIA) was a burden on the government.
The minister detailed that the process of PIA’s privatization was progressing smoothly as private firms were showing interest in the privatization.
Aleem Khan highlighted that six Pakistani companies interested in PIA have joint ventures with international firms from Malaysia, Turkiye and UAE adding that after privatization, Pakistanis would get an airline of international standards.
It is to be highlighted that the decision to privatize the airline was made during the last caretaker regime for which a consultant was also hired and efforts have been ramped up to finalize the privatization. The bidding for PIA was expected to be done in August; however, the process was delayed due to multiple reasons.
Presently, the issue of the ban on PIA by European countries as well as the liabilities of the airline are a stumbling block in the sell-off of the carrier though negotiations are still underway.
