Court dismisses petition challenging PIA privatization
The Lahore High Court’s Rawalpindi Bench on Thursday dismissed a petition challenging the privatization of Pakistan International Airlines (PIA), reaffirming that the process was conducted in compliance with legal and constitutional standards.
The petitioner had raised concerns over alleged irregularities and a lack of transparency in the privatization process. However, the court ruled that the procedure adhered to the Privatization Commission Ordinance, Articles 23 and 24, as well as Article 173 of the Constitution and the 2000 Ordinance.
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High Court to resume hearing of PIA privatization case on June 27
In its judgment, the court highlighted that the government owns 96 percent of PIA’s shares, and a competitive sale was essential to address the airline’s financial difficulties. The ruling further stated that the Privatization Commission had fulfilled its responsibilities lawfully, and that the judiciary cannot intervene in economic policy decisions.
The court emphasized that the privatization was conducted fairly, transparently, and in full accordance with legal and constitutional requirements. Barrister Manal Tariq represented the Privatization Commission in court.
Meanwhile, the privatization of PIA’s Roosevelt Hotel in New York has encountered another delay as the process to appoint a new financial advisor has been restarted. The Privatization Commission has invited fresh applications from firms for the role. Interested companies must submit applications along with a non-refundable fee of 1,000 USD by September 2.
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grants stay on dismissal of PIA senior flight steward
Additionally, the PIA privatization process is gaining momentum, with one of the bidding companies set to visit PIA's head office. Sources indicate the company will inspect PIA’s aircraft and review crucial airline records, while also touring other key facilities.
Source: ARY News