The privatization board rejected the PIA proposal in favor of a new plan for the sale of airlines. We will now submit new proposals for airline privatization to the cabinet committee and the federal cabinet for approval.
The Privatization Commission Board of Pakistan rejected the most recent bid for Pakistan International Airlines (PIA). Also submitted new ideas for the airline’s privatization. The cabinet committee and the federal cabinet will now consider these proposals for approval.
In a meeting led by Privatization Minister Aleem Khan, the decision was made. The discussion encompassed various privatization efforts, leading to the adoption of major proposals.
In his remarks at the meeting that took place on Wednesday, Khan emphasized that all efforts to privatize, including those for PIA. They must conform to legal norms while giving priority to the national interest.
He stated that “the cabinet committee is the one that makes the ultimate decision regarding the privatization of institutions such as PIA,” and he also mentioned the need for future actions to improve the bidding processes.
Khan also instructed authorities to speed up the process of privatizing the state Investment Authority (PIA) and other state entities. Stating, “We are bound by our oath to undertake whatever actions are necessary for the welfare of the country and its people.”
He emphasized the importance of learning from the PIA’s ongoing privatization process to improve future efforts. The board also took into consideration major factors pertaining to the privatization of other state-owned projects, which marked further steps toward Pakistan’s larger privatization plan.
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