Prime Minister Shehbaz Sharif on Friday instructed the ongoing privatization process for Pakistan International Airlines (PIA) to be broadcast live on TV and digital platforms, ensuring transparency throughout the case.
The Prime Minister was chairman of a high -level target and confirmed his government’s obligation to end privatization within the proposed timeframe.
To improve investor engagement, the prime minister instructed officials to keep roadshows and adopt a proactive outreach strategy.
Officials informed the meeting on the bidding process, the criteria for eligibility and prerequisites together with an investor -seeking plan that was implemented in coordination with consultants.
The meeting attended the federal ministers Khawaja Asif, Ahad Cheema, Attaullah Tarar, Attorney General Mansoor Usman Awan, advisers Muhammad Ali and Syed Tauqir Shah, Prime Minister Bilal Azhar Kayani, Special Assistant Haroon Akhtar and National Coordinator of Special Investment Facilitation Counter, Lt. Gen. Gen. General Sarfraz Ahmed, among others.
In the past, the government tightened the conditions for potential buyers of Pia to attract only financial sound parties to the other privatization bid and also prevented provincial governments from participating in the bidding.
The potential bidders may show their interest in acquiring majority shares in Pia until June 3, said Muhammad Ali, adviser to prime minister on privatization while talking to journalists.
He said the government tightened the conditions by learning lessons from the last failed privatization attempt. It also facilitated investors by allowing them to change the main consortium’s member two weeks before the buddy date.
The counselor shared details of the revised expression of interest (EOI) to sell 51% to 100% PIA shares along with management control. It hopes to enter into an agreement in the last quarter of this calendar year.
The government has set the deadline on June 3 for the submission of documents from potential buyers excluding the federal and provincial governments and their units.
