Islamabad: The Standing Committee on Privatization convened its seventh meeting under the leadership of Muhammad Farooq Sattar, MNA, focusing on the financial aspects of the Pakistan International Airlines Corporation Limited (PIACL) and the broader privatization efforts. Key issues discussed included payments to the financial advisor and the valuation of PIACL properties.

According to a statement by National Assembly of Pakistan, the Secretary of the Privatization Commission briefed the committee on the expenses related to the privatization of PIACL, revealing that USD 4.3 million of a total USD 6.8 million fee had been paid to Ernst and Youngest. The committee demanded further details regarding properties transferred to holding companies.

The meeting also scrutinized the Privatization Commission (Amendment) Bill 2024, with members questioning the provision granting the Prime Minister authority over the privatization process instead of the Cabinet. The committee deferred the bill, pending detailed input from the Ministry of Law.

The committee was informed about the inclusion of Pakistan Engineering Company, Lahore (PECO) in the privatization list. Concerns were raised over its lack of active production lines and a limited workforce. The committee called for a comprehensive report on PECO and recommended that employee salaries be disbursed before Eid.

MNAs including Anwar Ul Haq Chaudhary, Abdul Qadir Khan, Asiya Naz Tanoli, and others, along with ministry officials, attended the meeting.