Pakistan invites Azerbaijan to take part in PIA privatization

November 20, 2024 (MLN): Pakistan has offered the government of Azerbaijan to take part in the privatization of unprofitable flag carrier Pakistan International Airlines Corporation Ltd. (PIACL) after a failed attempt.

To note, the nation failed to sell the airline earlier this month after the sole bid it received in the auction was rejected for being 8.5 times below the minimum price.

The government said it would sell PIA through a government-to-government deal or privatization process.

Read more: PC board rejects sole PIA bid

Read more: Pakistan seeks to sell PIA to other countries

Federal Minister for Board of Investment, Privatisation and Communications Abdul Aleem Khan on Tuesday offered the government of Azerbaijan to take part in Privatisation of PIA, Utility Stores, Zari Tarqiati Bank, DISCOs and other state owned entities.

Abdul Aleem Khan held a meeting in Azerbaijan with Minister for Economy Mikayal Jabbaro to discuss a number of bilateral matters, especially investment in different sectors, said a press release.

He said that there is no doubt that Pakistan and Azerbaijan can increase volume of both side trade.

Similarly, in LNG and Renewable Energy there is wider scope of investment while IT, Telecom, Agriculture, Energy, and other sectors also open.

In Communications, Federal Minister Abdul Aleem Khan offered Azerbaijan to come forward on the project of Karachi to Sukkar Motorway M6 which is the busiest route as linked directly with Seaport.

Minister Economy of Azerbaijan Mikayal Jabbaro expressed his satisfaction over direct flight from Pakistan to Bakoo which resulted in increasing their Tourism.

Both the Ministers lauded the close and brotherly relations of Pakistan and Azerbaijan and expressed hope that these will further enhance in the days to come.

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