Government to sell 49 percent stake in PIA by April 15, 2018

    Government Minister for Privatization, Mr. Daniyal Aziz, today announced that the Government would continue to retain management control in Pakistan International Airlines after the sale of 49% stake in national carrier which is announced to be concluded by 15th of April, 2018,

    Minister for Privatization Daniyal Aziz on Tuesday informed the National Assembly that the government is bound to complete the privatization process of Pakistan International Airline (PIA) till April 15 as per the PIAC Conversion Act 2016 which was adopted by the parliament unanimously.

    Replying to a Calling Attention Notice moved by Syed Naveed Qamar and others, the minister clarified that the government will retain 51 percent shares of PIA while the management control will also remain with the government.

    The minister said the process will not affect the employees of the organization.

    Daniyal Aziz said that a full government owned company is also being established under which all the fixed assets of PIA would be managed.

    The minister said that the share of PIA would be sold after due process.

    He said that it was a premature calling attentions notice as prime minister has not yet approved the privatization of the PIA, adding that committee of the parliament approved its privatization.

    Posted on: 2018-02-20T15:45:00+05:00