Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

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49% stake in PIA, 18.3% of Mari Petroleum to be divested before General Elections: Daniyal Aziz

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During a meeting of Senate Committee on Privatization held today Daniyal Aziz, Minister for Privatization has remarked that “If 600 billion were to be spent on local population, Pakistan would match the quality of standards of Singapore”.

He was talking about the losses being incurred by Government from the Pakistan International Airline which have now gone on to exceed Rs. 450 billion.

Commenting on the plan to sell of Aviation division of Pakistan International Airlines, he said that the “Aviation and other departments will be privatized by 15th April, 2018, furthermore, a comprehensive valuation will be carried out before privatizing the national carrier in order to ascertain the total value.”

He said that a total of 49% stake in PIA will be sold to competitive bidders.

He also informed the committee that, “Government seeks to divest 18.3% stake in Mari Petroleum, the said divestment in Mari Petroleum stakes will be carried out during March – April, 2018.”

Pakistan International Airlines, Pakistan Steel Mills, SME Bank, and Mari Petroleum were also included in the detailed list of companies being considered by the Government to be privatized during coming few months.  

Due to a delay in announcement of MYT Tariff from NEPRA, the privatization of distribution companies has been halted under further notice. 

Posted on: 2018-01-30T15:39:00+05:00