Friday, Prime Minister Shehbaz Sharif ordered that the current privatization process of Pakistan International Airlines (PIA) will be broadcast live on television and digital platforms, guaranteeing transparency throughout the procedure.
Chairing a high -level exam meeting, the Prime Minister reaffirmed his government’s commitment to finish privatization within the proposed time.
To improve investors’ commitment, the Prime Minister has asked managers to keep lows and adopt a proactive awareness strategy.
The officials informed the meeting on the tender process, the eligibility criteria and the prerequisites, as well as an investor awareness plan implemented in coordination with consultants.
The meeting was followed by the federal ministers Khawaja Asif, Ahad Cheema, Attaullah Tarar, the attorney general Mansoor Usman Awan, the advisers Muhammad Ali and Syed Tauqir Shah, Minister of State Bilal Azhar Kayani, Haroon Akhtar special Akhtar, and the national coordinator.
Previously, the government has tightened the conditions for potential PIA buyers in order to attract only financial parts for the second privatization offer and also prevented provincial governments from participating in the call for tenders.
Future bidders can show their interest in acquiring majority shares at PIA until June 3, Muhammad Ali, advisor to the Prime Minister on privatization, told journalists.
He said the government has tightened the conditions by learning the lessons of the last failed privatization attempt. It also facilitated investors by allowing them to modify the main consortium member two weeks before the date of tender.
The advisor shared the details of the revised expression of interest (EOI) for the sale of 51% to 100% of PIA shares as well as management control. He hopes to conclude an agreement by the last quarter of this calendar year.
The government has set the deadline of June 3 to submit documents by potential buyers to the exclusion of federal and provincial governments and their entities.
