ISLAMABAD: Pakistan’s Privatisation Commission is addressing concerns voiced by those qualified to bid for the country’s national airline about a European Union Aviation Safety Agency (EASA) ban on the carrier, an official said on Wednesday.
The privatisation of the loss-making state-owned enterprises has long been on the International Monetary Fund’s list of recommendations for Pakistan, which is seeking to strike a deal with the fund for a longer term bailout this month.
The privatisation commission pre-qualified six consortiums for bidding in June and expects to conclude the privatisation process of Pakistan International Airlines (PIA) by next month.
PIA, HBFCL, others: sell-off timeline issued
Usman Bajwa, secretary of the commission, told a briefing the body was addressing concerns voiced by those pre-qualified by the government to bid for a stake ranging from 51% to 100%.
Previous governments avoided disposing of the flag carrier as a potentially highly unpopular move, but the country needs to unlock further funding from the IMF.
PIA bidding process to take place in first week of August
The EASA banned the PIA from its most lucrative routes in Europe and Britain after a PIA plane crash in Karachi in 2020 killed nearly 100, followed by a scandal over pilot licences.
The ban continues, costing the airline annual revenue of nearly 40 billion rupees ($143.73 million), the government has told parliament.
Senior PIA official confident EASA will lift ban this year
Read the full story at the Business Recorder - Latest News website.
