Cash-strapped Pakistan is likely to privatize its national airline by the first week of August, a media report said on Wednesday.
The long-awaited privatization of Pakistan International Airline (PIA) has been high on the government’s agenda after the groundwork was completed by the interim government that was in place to organize the elections.
Citing sources close to the development, private television channel ARY News reported that six companies have been selected for the privatization of the national airline.
The selected companies sought details related to PIA and requested until July to analyze the financial issues of the national airline.
Meanwhile, authorities are providing the necessary information to the consortium of pre-selected companies.
It is pertinent to mention here that a consortium of six companies has been pre-qualified to privatize Pakistan International Airlines (PIA).
According to the details, the companies that are part of the pre-qualified consortium will now be able to participate in the PIA bidding.
The decision was taken during the Privatization Commission Board meeting this week, chaired by Privatization Minister Aleem Khan, who emphasized the government’s commitment to ensuring a transparent and efficient privatization process for all loss-making state-owned enterprises.
To maintain transparency and foster trust, Khan proposed live streaming of the privatization process on social media platforms to assure all stakeholders of the integrity of the process.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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