KARACHI: Privatization commission has approved the privatization of Pakistan International Airline (PIA) on Wednesday, ARY News reported.
President of the Privatization Commission Zubair Umer chaired the privatization board meeting in Islamabad. The board approved the strategic sale for 26 percent shares of PIA as well as the transfer of its management.
The commended decisions are expected to be implemented till December of this year. Renowned companies will bid for the shares.
Besides PIA, privatization of National Power Construction Company and National Electric Complex has been approved by the board.
The privatization of these companies were in pending due to lack of interest from investors.
