Money-strapped Pakistan is prone to privatize its nationwide flag provider by the primary week of August, a media report mentioned on Wednesday.
The much-anticipated privatization of Pakistan Worldwide Airline (PIA) has been on high of the agenda of the federal government after the groundwork was accomplished by the caretaker authorities that was in place to prepare elections.
Citing sources near the event, personal tv channel ARY Information reported that six firms have been shortlisted for the privatization of the nationwide flag provider.
The shortlisted firms have sought particulars associated to PIA and requested for time until July to evaluate the monetary problems with the nationwide airline.
In the meantime, the authorities are offering the required info to the consortium of shortlisted firms.
It’s pertinent to say right here {that a} consortium of six firms has been pre-qualified for privatizing Pakistan Worldwide Airways (PIA).
In accordance with the small print, the businesses that lie within the pre-qualified consortium will now be eligible to take part within the bidding course of for the PIA.
The choice was made throughout the Privatisation Fee Board assembly this week which was chaired by Privatization Minister Aleem Khan, who emphasised the federal government’s dedication to making sure a clear and environment friendly privatisation course of for all loss-making state-owned firms.
To keep up transparency and foster confidence, Khan proposed broadcasting the privatisation proceedings stay on media platforms to guarantee all stakeholders concerning the integrity of the method.
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
