PIA privatization: Govt forms new board of directors

KARACHI: Pakistan International Airlines (PIA) has restructured its board of directors to expedite the process of privatization of national flag carrier. 

The appointment of the 11-member board was confirmed by the flag carrier via formal communication to the main bourse on Monday.

This reshuffle introduces mostly fresh faces to the PIA board. They include Dr. Aqdas Afzal, Sahibzada Rafat Raoof Ali, Haaris M. Chaudhry, Nadeem Karamat, and Tahira Raza.

The federal government on Friday formed a committee to expedite the process of outsourcing the country’s major airports and privatization of Pakistan International Airlines (PIA).

According to the notification, the newly formed committee will act under the chairmanship of Federal Minister of Defense and Aviation Khawaja Asif Ahmad.

Foreign Minister Ishaq Dar and Federal Minister of Privatization Aleem Khan are also part of the committee.

Deputy Chairman Planning Commission, Secretary Privatization and Secretary Aviation are also members of the committee while the Aviation Division will provide secretarial support to the Committee, the notification added.

The committee will review outsourcing of the management of major airports of the country and will also monitor matters related to privatization of PIA.

It is pertinent to mention here that the government has already initiated the process to delegate the operations and management of Karachi, Islamabad, and Lahore airports – with the aim of generating foreign exchange to support the economy.