Government and opposition agreed on PIA privatization bill
ISLAMABAD: Government and Opposition have agreed on Pakistan International Airline privatization bill which would be presented in the joint session of the Parliament for approval.
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As per details, PIA privatization bill was reviewed in a meeting of joint parliamentary committee under the chairmanship of federal minister for law Zahid Hamid . Government and opposition members have given approval of bill after mutual consensus.
It was decided in the meeting that 49% shares of PIA could be put on sale by government while 51% shares would remain under government authority. Administrative control of PIA would also not be given in the hands of shareholders as well as administration affairs would remain under the control of board of governors.
It was also agreed in the meeting that existing salaries and pensions of employees would not be impacted by making PIA as limited company while assets of PIA would not be sold by government.