Financial services pact for PIA privatisation
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A financial services agreement was signed for the privatization of the Pakistan International Airline (PIA), the 24NewsHD TV channel reported on Tuesday.
According to a statement, the Privatization Commission and the Financial Advisor sealed the deal.
The advisor will be responsible for restructuring, legal and financial matters of PIA, it said adding that a consortium led by British multinational Ernst and Young was appointed as the financial advisor and
The Ernst & Young was declared the successful bidder by the Privatization Commission Board.
A meeting of the Privatisation Commission Board under the chairmanship of the Federal Minister for Privatisation Fawad Hasan Fawad granted approval to the appointment of a financial advisor (FA) for the divestment of PIA