PC board rejects sole PIA bid

November 14, 2024 (MLN): The Priv­atisation Commission’s board on Wednesday rejected the sole Rs10 billion bid submitted by Blue World City Consortium for the divestment of 60% shares of Pakistan International Airlines Corpo­ration Limited (PIACL), the privatisation ministry said in a statement.

The board decided to refer the issue of PIA’s privatisation to the Cabinet Committee on Privati­sation for further consideration.

Federal Minister for Privatization, Board of Investment & Communications Abdul Aleem Khan chaired a high-level meeting of the Privatization Commission Board in which various issues including the privatization of PIA were discussed and recommendations were approved.

In the meeting of Privatization Commission Board it was decided to form 3-Member Committee to participate in the process of privatization by the Members of the Board.

The board also deliberated on the way forward for the divestment of PIACL and considered various options for its early privatization.

The Board further reviewed the status of other ongoing privatization transactions in the meeting.

Federal Minister Abdul Aleem Khan said that the privatization issues will be completed in accordance with the laws and regulations and keeping in views the national interest before us because the final decision on the issues of privatization of PIA and other institutions has to be taken by the Cabinet Committee.

Federal Minister Abdul Aleem Khan directed that the Privatization of State Owned Entities including PIA should be carried forward without delay and in future bids offer for privatization of other institutions should be improved.

He said that we are bound by our oath to do our best for the betterment of the country and nation.

Federal Minister Abdul Aleem Khan further said that the framework given by the Caretaker Government in the privatization of PIA were taken forward but now we have to keep in mind the concerns of the institutions involved in the privatization.

Federal Minister emphasized that we have to learn from the Privatization process of PIA and have to be more active in future.

In the 227th meeting of the Privatization Commission Board, the Secretary Privatization Commission while giving a briefing on various issues said that the Board did a good job, various airlines including Turkish and Singapore were interested in the privatization of PIA so the Privatization Commission Board can't through away any party who pre-qualifies for privatization.

In the meeting, various proposals were presented for PIA and the process of privatization and views were expressed on various issues and important decisions were made.

Federal Minister for Privatization Abdul Aleem Khan extended opportunity to all the Members of the Privatization Commission Board and heard their suggestions in detail.

Important issues related to Privatization of other projects were discussed in the meeting, as well.

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