The Privatization Commission Board has approved the transaction structure for the second attempt to privatize Pakistan International Airlines Corporation Limited.  This decision was made during a meeting of the Privatization Commission Board, chaired by Muhammad Ali, the adviser to the prime minister on privatization. The plan involves divesting 51 percent to 100 percent of PIACL’s share capital, along with management control. 

The Ministry of Privatization in a statement said that “The board recommended to CCOP (Competition Commission of Pakistan) the transaction structure proposed for the 2nd attempt of PIACL privatization based on divestment of 51 percent to 100 percent share capital of PIACL together with the management control of PIACL”.  Additionally, the Privatization Commission Board discussed the privatization of Roosevelt Hotel in New York, and decided to seek a briefing from a financial advisor before moving forward with the process.

Credit: Independent News Pakistan (INP)