https://arab.news/nxvuu
- Pakistan pre-qualified six consortiums for bidding in June, expects to conclude privatization process of PIA by next month
- Privatization commission says addressing concerns voiced by pre-qualified bidders for a stake ranging from 51% to 100%
ISLAMABAD: Pakistan’s privatization 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 privatization 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 privatization commission pre-qualified six consortiums for bidding in June and expects to conclude the privatization process of Pakistan International Airlines by next month.
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 percent to 100 percent.
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.
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 licenses.
The ban continues, costing the airline annual revenue of nearly 40 billion rupees ($143.73 million), the government has told parliament.
($1 = 278.3000 Pakistani rupees)