PIA privatization: Significant development reported
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The schedule for the privatization of Pakistan International Airlines (PIA) has been officially established. A significant meeting took place, presided over by Caretaker Minister for Privatization, Fawad Hasan Fawad, where discussions centered on the restructuring of PIA and the subsequent transition towards privatization.
The meeting boasted the presence of key individuals, including the Advisor to the Prime Minister on Aviation, members of his team, top-tier management, as well as legal and financial advisors from PIA, according to an official press release.
Within this gathering led by Minister Fawad Hasan Fawad, a consensus was reached on clear and defined timelines for the privatization process, aligning with the objectives set by the Prime Minister and the Cabinet. During the discussions, Fawad Hassan Fawad engaged in detailed conversations with PIA officials and the aviation division about the restructuring of the national flag-carrier.
However, it's notable that the privatization commission's press release did not offer specifics regarding the proposed timeline for this significant transformation.
Just a few days prior to this development, Caretaker Prime Minister Anwaar ul Haq Kakar had directed Minister Fawad Hasan Fawad to take charge of the privatization process of Pakistan International Airlines and expedite it on a fast-track basis. Chairing a meeting to address matters concerning PIA, the Prime Minister emphasized the urgent need to accelerate the process to enhance service reliability for users and elevate the national flag carrier's standards to meet global aviation benchmarks. Consequently, he urged all relevant stakeholders to swiftly address the intricacies of privatization
