PIA privatisation back on track as govt plans new bids

The federal government has announced plans to call for fresh bids for the privatization of Pakistan International Airlines (PIA) after reservations about significantly lower offers in the initial bidding process. This was revealed during a meeting of the Senate Standing Committee on Privatization. by Senator Talal Chaudhry, where the reasons behind investor apathy and below-benchmark bidding were discussed at lengthFederal Minister for Privatization Abdul Aleem Khan said that the process of re-privatization of PIA is going on, Prime Minister Shehbaz Sharif is paying special attention to this issue. should take bold decisions to facilitate its privatisation.” Khan remarked. Briefing the committee, the minister disclosed that the total loss of PIA is Rs 830 billionHe reiterated the need for privatization to revive the airline and stressed that the process, though challenging, was necessary for the transformation of the national carrier. “We can learn from global examples. With strategic reforms and collaboration, PIA can also attract credible investors.