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PIA to embark on strategic restructuring for enhanced market appeal

PIA clarifies no debt clearance yet
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December 07, 2023 (MLN): In order to enhance its appeal to potential buyers in the aviation industry, Pakistan International Airlines (PIACL) is set to undergo restructuring, the caretaker Federal Minister for Privatization, Fawad Hasan Fawad disclosed during a meeting with a delegation from the British High Commission on Wednesday.

The Minister apprised the delegation of the need for privatization, the current scenario and the government’s strategy and priorities with regard to privatization.

The minister also shared recent developments in the privatization process of PIACL and Roosevelt Hotel.

The delegation was told that PIACL will undergo restructuring thereby improving its appeal for prospective buyers in the aviation industry.

The privatization of PIACL will bolster the aviation business in the country which will require some regulatory framework from the government.

Possibilities of cooperation with the British High Commission in developing a regulatory framework for the aviation industry and for privatization in general were also discussed.

It was agreed to further explore the options for cooperation and the capacity building of the Privatization Commission.

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Posted on: 2023-12-07T10:19:46+05:00