Work on PIA restructuring plan expedited

KARACHI: Work on the restructuring plan of Pakistan International Airlines (PIA) for privatisation, expedited, ARY News reported.

As per details, the PIA administration has sought applications from legal and corporate firms for the restructuring plan of the national flag carrier.

The Department of Contract Management has been directed to forward the applications by October 6.

The assets belonging to the PIA, including property, debts, aircraft, and employees, will be transferred to the new company and PIA will be presented to the investor as free from debts organization for privatisation.

Earlier to this, the caretaker Minister for Privatisation Fawad Hasan Fawad chaired a meeting with different stakeholders regarding the restructuring of Pakistan International Airlines (PIA) leading to a privatization process.

During the meeting headed by Minister for Privatisation Fawad Hasan Fawad “clear timelines regarding the process were agreed with a view to meet the target set by the Prime Minister and the Cabinet.”