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PIA seeks bids for evaluation of its flight kitchen’s assets

KARACHI: Pakistan International Airlines (PIA) has decided to evaluate the assets of its flight kitchen in the name of the restructuring process in the airline, ARY NEWS reported.

According to sources within the PIA, the national airline’s attempt to evaluate the assets of the flight kitchen and other departments in the garb of a restructuring process could be aimed at gathering information on assets ahead of its privatization.

According to details, the airline has sought invitations from assets’ evaluators, registered with bank associations and the Security and Exchange Commission of Pakistan (SECP).

The invitation was advertised by the PIA and interested evaluators were asked to submit their proposals by January 11.

It is pertinent to mention here that besides evaluation of the assets of the flight kitchen, the PIA has also sought invitations for evaluating the value of its planes, buildings and other properties.

Read More: Voluntary separation offer for PIA employees expires, downsizing to follow

The value obtained after the evaluation of the assets would be examined with the market price and sales value as sources said that it could be used for the privatization of the assets owned by the national flag carrier.

The PIA spokesman has, however, denied that the process was aimed at privatization of the airlines’ assets. “It is aimed at better utilization of the assets,” he said.

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