The Ministry of Privatization has said on Tuesday that Pakistan International Airlines (PIA) of Privatization The process has been completed and the (Budding) bid will be held on October 1.
In this regard, today the spokesperson of the Ministry of Privatization, Ahsan Ishaq, has told Independent Urdu that ‘the bidding for the privatization of Pakistan International Airlines will take place on October 1, and the final confirmation will be done by the end of the week.’
A spokesperson of the Ministry of Privatization said that six parties interested in bidding will participate.
The spokesman said that on September 20, a meeting of the Privatization Commission was held under the chairmanship of Federal Minister for Privatization Aleem Malik, where the current situation of privatization of PIA was reviewed.
According to the spokesperson, Privatization Commission had initially shortlisted six bidders including Fly Jinnah, YB Holdings Private Limited, Air Blue Limited, Pak Ethanol Private Limited, Arif Habib Corporation Limited and Blue World City.
Today, the Chairman of the Standing Committee on Privatization of the National Assembly Farouk Star A meeting was held under the chairmanship of PIA in which the issue of privatization of PIA was considered.
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Chairman Committee Farooq Sattar told Independent Urdu that the Privatization Commission has said in the meeting that ‘all the processes for the privatization of PIA have been completed. The final approval of his budding will be taken from the federal cabinet.
He said that according to the Privatization Commission: ‘PIA staff will be retained for two to three years. While the company buying the national airline has to add new planes under the business plan. The fleet of ships has to be increased from 18 to 45 within three years. The pension of the retired employees of PIA, which is Rs 35 billion, will be paid by the government. The government will pay the pension of retired employees only.
Secretary Privatization Commission told the committee that the process of privatization of PIA was started in November last year.
The preparation of investors for its bidding is in the final stages. PIA’s routes will be maintained, any closure of the route will have to take permission from the government.’
The secretary said that action could be taken against the company buying the national airline for breach of contract. While the buyer company of PIA will have to invest 65 to 70 billion rupees.
Secretary Privatization Commission said in the briefing that ‘in the privatization of PIA, there is a consortium of Turkish and Malaysian airlines. After privatization, the operations of Emirates, Etihad, Gulf and Qatar Airlines will be significantly affected.
Referring to India, the secretary said that even after the privatization of Air India, the business of the Gulf airlines was greatly affected.
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2024-09-24 21:16:15