Islamabad: Pakistan International Airlines (PIA), a few days after posting its first annual benefit in more than 20 years, the government on Thursday announced that it would invite the expression of interest for the sale of the airline next week.
Officials have demanded to sell 51-100% stake in a loan-affected airline to raise funds under the International Monetary Monetary Fund Program of $ 7 billion and to improve cash-drawing, state-owned enterprises.
Last year, its unsuccessful attempt for privatization of PIA received a single proposal, well below the price of over $ 300 million.
The Privatization Commission Board has approved the demand for new dialects, the ministry said in a statement.
“The board approved the pre-usual criteria for the selection of potential bidders,” said this. This added new expressions of interest in buying between 51 and 100% airline next week.
Pakistan has shifted the heritage loans of almost all national carriers to government books, as the issues raised by the bidders failed for the final privatization attempt.
Privatization advisor Muhammad Ali said that all the issues raised at the time of last year’s unsuccessful attempt last year were dealt with.
The government has planned to complete the privatization of the airline before the end of this year.
Prime Minister Shahbaz Sharif announced a plan to sell all SOE last year.
In its last week’s statement, the advisor said that the process of privatization of power distribution companies had also started, it was called “high priority transactions”.
He said that earlier some companies were being pushed in the first phase due to being sold in the second phase.
The advisor said that the government had appointed Jones Lang Lasel to recommend searching various sales options for the PIA -owned Roosevelt Hotel Building in Manhattan, New York.
They include selling the building as it is choosing for a joint venture with a top-level developer, with the ability to generate five times more income, Ali said.
