Pakistan to allay fears of potential bidders over PIA safety ban
Pakistan’s privatization commission is working to resolve concerns
raised by potential bidders regarding a European Union Aviation Safety Agency
(EASA) ban on the national airline.
The privatization of loss-making state-owned enterprises has been a
longstanding recommendation from the International Monetary Fund (IMF), as
Pakistan seeks to finalize a long-term bailout deal with the fund this month.
In June, the privatization commission pre-qualified six consortiums for
bidding and aims to complete the privatization of Pakistan International
Airlines (PIA) by next month.
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keeps ban on PIA flights to Europe
Usman Bajwa, the commission's secretary, stated in a briefing that the body
is addressing the concerns of those pre-qualified to bid for a stake ranging
from 51% to 100%.
Previous governments have hesitated to sell off the flag carrier due to
potential unpopularity, but securing further IMF funding is crucial for the
country.
EASA banned PIA from its profitable routes in Europe and Britain following a
2020 PIA plane crash in Karachi, which killed nearly 100 people, and a
subsequent scandal over pilot licenses.
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Department for Transport to visit Pakistan for restoration of flights
The ban remains in place, costing the airline nearly Rs40 billion ($143.73
million) in annual revenue, according to the government.
Source: Dawn