The National Assembly’s (NA) Standing Committee on Privatization was told on Monday that the financial adviser had suggested the sale of 51 per cent to 100 per cent shares in the Pakistan International Airlines (PIA), whose privatization had started on June 7, 2024. In a briefing given to the committee, which met here with Dr. Farooq Sattar in the chair, on the PIA’s privatization, it was informed that it was the federal cabinet, which had to decide how many shares of the airline would be sold. It was also told that on July 1 meetings were held with six parties for bidding and that after the privatization, parties would spend an amount ranging between $400 million and $500 million on the national flag carrier since the government did not have that much amount.  It was told that the cabinet had so far approved the privatization of 24 state-owned entities, including that of power producing and distribution companies.  The NA body was briefed that since courts took a long time to decide on the privatization of different departments, therefore from now onwards, tribunals would be set up for the purpose.

Credit: Independent News Pakistan