PIA privatisation bidding to be televised live on Dec 23: PM Shehbaz

Prime Minister Shehbaz Sharif on Tuesday assured complete transparency and merit in the privatisation of the Pakistan International Airlines (PIA), announcing that the bidding process scheduled for December 23 would be broadcast live on national television.

He was speaking at a meeting with all business leaders and companies participating in the PIA privatisation process.

The meeting was held at the Prime Minister House and attended by federal ministers Muhammad Ishaq Dar, Ahsan Iqbal, Muhammad Aurangzeb, Attaullah Tarar, Azam Nazeer Tarar, Sardar Owais Leghari, Minister of State Bilal Azhar Kayani, Adviser to PM Muhammad Ali, SAPM Haroon Akhtar and senior officials.

Representatives of all bidding entities were also present.

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The prime minister said the government was committed to restoring the national flag carrier’s lost image and aligning it with modern aviation and service standards.

“The privatisation process is progressing smoothly to revive PIA and make it a competitive airline once again,” he said.

Expressing confidence in the future management, he added: “InshaAllah, PIA will once again stand by its slogan ‘Great People to Fly With’. Whoever takes charge after the bidding will have the responsibility to revive the airline’s reputation and focus on its growth.”

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The premier said the restoration of PIA’s international flight operations would greatly facilitate overseas Pakistanis. He added that upgrading the national airline was also crucial for promoting Pakistan’s tourism sector.

Participants at the meeting appreciated the government’s professional and transparent approach to the privatisation process.

The government failed in the first attempt to privatise the PIA last year after receiving a single offer, well below the asking price of more than $300 million.

Blue World City consortium refused to match the minimum expectation of the Privatisation Commission of Rs85.03 billion and stuck to its original offer of Rs10 billion for a 60% stake in the PIA, ending the bidding process of the national flag carrier’s privatisation.