Govt renews its intent for PIA’s privatization
Asks investors to submit expressions of interest by June 3
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Again showing an interest in the privatization of the Pakistan International Airlines (PIA), the government has said it wants to sell 51 per cent to 100 per cent shares in the airline, reported 24NewsHD TV channel on Thursday.
The privatization commission has given the investors the deadline of June 3 to submit their expressions of intent.
It has said that the airline’s management control will also be transferred.
The commission has further said that the airline’s core and non-core businesses have been separated, while its assets and dues have been transferred to its holding company limited.
Similarly, it has been conveyed to investors that they will be exempted from paying sales tax in case they purchase new planes or acquire them on lease.
Besides that, financial assistance will also be provided to the national flag carrier.
The federal government had on Wednesday issued an advertisement for the privatization of the PIA, setting in motion the process for interested parties to submit bids.
Currently, PIA operates 268 flights per week and covered 30 routes during the last fiscal year.
The government hopes that through this strategic sale, PIA can be revitalized and repositioned as a competitive player in the global aviation industry.
Reporter: Waqas Azeem