Islamabad: Federal Minister for Privatization, Board of Investment & Communications Abdul Aleem Khan chaired a high-level meeting of the Privatization Commission Board, discussing issues including the privatization of Pakistan International Airlines (PIA) and approving related recommendations. The meeting resolved to refer the PIA privatization issue to the Cabinet Committee, while expressing satisfaction over the progress of privatization efforts. A 3-member committee was established, comprising Board members, to participate in the privatization process.
According to Press Information Department, this 227th meeting chaired by Abdul Aleem Khan considered a bid of Pak Rupees 10 billion from Blue World City Consortium for the divestment of 60 percent shares of PIACL, submitted on October 31, 2024, and recommended its rejection. The Board also deliberated on strategies for the early privatization of PIACL and reviewed ongoing privatization transactions. Abdul Aleem Khan emphasized that privatization would be executed in compliance with laws and national interests, highlighting the Cabinet Committee’s role in final decision-making.
Abdul Aleem Khan directed that the privatization of State-Owned Entities, including PIA, should proceed without delay, and future bids should improve in offer terms. He reaffirmed commitment to national betterment and acknowledged the framework set by the Caretaker Government for PIA’s privatization, stressing the need to address concerns from involved institutions. The Minister highlighted the importance of learning from PIA’s privatization process for more proactive future actions.
The Secretary of the Privatization Commission briefed the meeting, noting the Board’s effectiveness and interest from airlines such as Turkish and Singapore Airlines in PIA’s privatization. The Board decided not to dismiss any pre-qualifying parties. Various proposals for PIA’s privatization and other projects were discussed, with Federal Minister Abdul Aleem Khan ensuring thorough consideration of Board members’ suggestions. Important issues related to the privatization of other projects were also addressed.