Prime Minister Shehbaz Sharif directed on Friday that the ongoing privatization process of Pakistan International Airlines (PIA) will be broadcast live on television and digital platforms, which guarantees transparency throughout the procedures.
By chairing a high -level review meeting, the Premier reaffirmed his government’s commitment to complete privatization within the proposed period.
To improve investors’ commitment, the prime minister instructed officials to celebrate Roadshows and adopt a proactive dissemination strategy.
The authorities reported the meeting on the bidding process, the eligibility criteria and the previous conditions, together with an investor dissemination plan implemented in coordination with consultants.
The meeting was attended by federal ministers Khawaja Asif, Ahad Chema, Attaullah Tarar, Attorney General Mansoor Usman Awan, the advisors Muhammad Ali and Syed Tauqir Shah, Bilal Minister of State Azhar Kayani, the special assistant Haroon Akhtar and the national coordinator of the facilitation of special investments, the Gen. Lt. Gen.
Previously, the Government harden the conditions for possible PIA buyers to attract only financial parties for the second privatization offer and also prohibited provincial governments from participating in the tender.
Possible performance may show their interest in acquiring majority actions in PIA until June 3, said Muhammad Ali, advisor to the Privatization Prime Minister, while talking with journalists.
He said that the Government hardened the conditions by learning the lessons of the last failed attempt of privatization. It also facilitated investors by allowing them to change the main consortium member two weeks before the bidding date.
The advisor shared details of the reviewed expression of interest (EOI) to sell 51% to 100% of PIA’s shares along with the management control. He hopes to reach an agreement for the last quarter of this calendar year.
The Government has established the deadline of June 3 to present documents from possible buyers, excluding federal and provincial governments and their entities.
