Islamabad (TDI): The Privatisation Commission Board (PCB) on Wednesday decided to refer the matter of Pakistan International Airlines (PIA) privatisation to the Cabinet Committee on Privatisation (CCOP).
The decision was made during the PCB’s 227th meeting chaired by Federal Minister for Privatisation, Board of Investment & Communications Abdul Aleem Khan.
Other than PIA, the meeting attendees received briefings on various privatization issues, to which they expressed satisfaction.
The board members also agreed to constitute a three-member committee to participate in the privatisation process.
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The board also considered the Blue World City Consortium’s bid of Rs10 billion to acquire 60 per cent shares of PIACL and unanimously rejected it.
The board also discussed a way forward for the divestment of PIACL and considered various options for its early privatization. The Board further reviewed the status of other ongoing privatization transactions in the meeting.
Privatisation to be Completed As Per Law: Aleem
Addressing the meeting, Federal Minister Abdul Aleem Khan said that the privatisation will be completed as per the laws and regulations and will keep the national interest in view.
“We are bound by our oath to do our best for the betterment of the country and nation,” headed.
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He added that the board would only suggest a way forward and that the Cabinet Committee on Privatisation will take a final decision on the matter.
Aleem urged speeding the privatisation process of state-owned entities including PIA, stressing that the future bids for the privatisation of other institutions should also improve.
He noted that the board had earlier moved forward with the framework given by the Caretaker Government in PIA’s privatisation, but now “we have to keep in mind the concerns of the institutions involved.”
He suggested that the privatisation of PIA should be a test case for the board and that they should be more active in future.
