Financial advisors update privatization minister on PIA divestment progress

By MG News | March 15, 2024 at 09:47 AM GMT+05:00

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March 15, 2024 (MLN): The financial advisors, a consortium led by Earnest & Young, on Thursday briefed the Federal Minister for Privatization, Abdul Aleem Khan regarding the progress to date and the future course of action for the divestment of Pakistan International Airlines Corp (PSX: PIAA).

The Minister was apprised of the restructuring and segregation plan being carried out as per approval of the cabinet besides the timelines for the privatization of PIACL.

The minister appreciated the progress made so far and issued necessary instructions for speeding up of the process.

The Minister noted that PIA is a tremendous investment opportunity for any prospective buyer given the legacy, goodwill and potential of the airline.

The Secretary, Privatisation Division, Jawad Paul and Secretary, Privatisation Commission, Usman Akhtar Bajwa were also present in the meeting.

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