Privatization Board proposes new plan
for PIA sale after rejecting bid
The Privatization Commission Board
of Pakistan has rejected the latest bid for Pakistan International Airlines
(PIA) and introduced new proposals for its privatization. These recommendations
will now be forwarded to the cabinet committee and the federal cabinet for
final approval.
The decision was made during a
meeting chaired by Privatization Minister Aleem Khan, which reviewed several
ongoing privatization initiatives and endorsed critical recommendations.
Read More PIA's
financial matters to be transferred to Privatization Commission
Speaking at the meeting, Khan
highlighted the need for strict adherence to legal protocols in all
privatization efforts while prioritizing the national interest.
"The ultimate decision on the
privatization of institutions like PIA lies with the cabinet committee,"
he said. He further emphasized the importance of refining future bidding
processes to ensure improved outcomes.
Khan instructed officials to
accelerate efforts to privatize PIA and other public entities, stating,
"We are committed to taking all necessary steps for the welfare of the
country and its people."
Read More PIA's
financial matters to be transferred to Privatization Commission
He also underscored the importance
of drawing lessons from the current PIA privatization process to enhance future
undertakings. The board reviewed various aspects of privatizing other
state-owned enterprises, signaling continued progress in Pakistan's broader
privatization agenda.
Source:
Express Tribune