Privatisation of PIA scheduled for early August 2024: sources

The much-anticipated privatization of Pakistan International Airline (PIA) will likely take place in the first week of August 2024, ARY News reported on Tuesday.

Sources close to the development revealed that a total of six companies have been shortlisted for the privatization of the national flag carrier.

The shortlisted companies have sought details related to PIA and asked for time till July to review the financial issues of the national airline.

Meanwhile, the authorities are providing the required information to the consortium of shortlisted companies.

It is pertinent to mention here that a consortium of six companies has been pre-qualified for privatizing Pakistan International Airlines (PIA).

According to the details, the companies lie in the pre-qualified consortium will now be eligible to participate in the bidding process for the PIA.

The decision was made during the Privatisation Commission Board meeting, chaired by Federal Privatization Minister Aleem Khan.

During the meeting, Aleem Khan emphasized the government’s commitment to ensuring a transparent and efficient privatisation process for all loss-making state-owned companies.

To maintain transparency and foster confidence, Khan proposed broadcasting the privatisation proceedings live on media platforms to assure all stakeholders about the integrity of the process.