Financial advisors appointed for PIA, DISCOs, Roosevelt hotel

August 22, 2024 (MLN): The Privatization Commission Board in its Board meeting held yesterday approved the appointment of Financial Advisors for Pakistan International Airlines (PIA), Distribution Companies (DISCOs), and Roosevelt Hotel.

Federal Minister for Privatization Abdul Aleem Khan said that the national exchequer should be saved from the burden by privatizing loss-making institutions.

He observed that privatization is a very important sector in which transparency will be ensured at all costs.

Federal Minister Abdul Aleem Khan further said that the government has to make better, solid and lasting decisions in the wider national interest.

He said that any institution that meets the criteria and follows the rules and regulations must be given chance to take part in the privatization process.

Abdul Aleem Khan expressed his satisfaction with the performance of the Privatization Commission Board and said that the inclusion of Financial Advisors from world-class firms is a good omen.

Privatization Commission Board approved the selection of six (06) companies/firms as prequalified Financial Advisors for the Privatization Program.

The six companies/firms approved for the panel of prequalified Financial Advisors include Citigroup Global Markets Ltd. UK, J.P. Morgan, Alvarez & Marsal, UAE, EY Consulting LLC Dubai, PWC-A.F. Ferguson & Co. and BDO Ebrahim& Co., Pakistan.

This prequalification of Financial Advisors will enable the Privatization Commission to timely engage Financial Advisors for various upcoming privatization transactions.

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