Islamabad, In a significant move toward privatizing its national airline, Pakistan’s government officials convened to advance discussions and strategies, underscoring a critical phase in the country’s largest privatization effort. The high-level meeting, co-chaired by Federal Minister for Defence, Defence Production and Aviation Khawaja Muhammed Asif, and Federal Minister for Privatisation Abdul Aleem Khan, delved into the financial and operational contours of this landmark initiative.

According to Press Information Department, the consultation involved key stakeholders, including representatives from Ernst and Young (EY), steering the privatization process, and secretaries from relevant divisions, who reviewed the comprehensive restructuring and segregation plan sanctioned by the cabinet. The session underscored the detailed scheme of arrangements, addressing pre and post-bidding concerns related to the airline’s assets and liabilities, alongside strategies for their phased resolution.

Critical discussions at the forum also encompassed the airline’s debt reprofiling and a six-month cash flow plan, pivotal for transitioning liabilities to a holding company and enhancing the carrier’s financial stability. Minister Asif expressed optimism about the European Union Aviation Safety Agency (EASA) restoring clearance to the airline, a development anticipated to significantly boost its market appeal for potential investors.

Furthermore, Minister Asif revealed prospective advancements, including the expected resumption of flights to the United Kingdom, signaling positive dialogues with relevant entities. On his part, Minister Abdul Aleem Khan underscored the urgency of finalizing the privatization process, highlighting the importance of timely decision-making in achieving substantial business outcomes.

This meeting marks a decisive step in Pakistan’s privatization trajectory, setting the stage for transforming its national flag carrier and enhancing its competitive edge in the global aviation sector.