PIA Privatisation | Govt. to Retain Majority Shares; Daniyal
ISLAMABAD: Minister for Privatization Ch. Daniyal Aziz once again confirmed the privatization of PIA on Wednesday when he told the Senate that 51 per cent share of Pakistan International Airlines and its management would remain with the government while 49 per cent share will be sold by April 15. The minister said the process was started under the PIAC Conversion Act 2016 unanimously passed by the House.
He said the Speaker had set up a committee, which had representation of all political parties to bring improvement in the national flag carrier. The committee has drafted the Act, which was unanimously passed by the House, he said.
He told that the government intended to separate transport business from the airline’s assets and the entity would be owned by the state. Majority shares and management control would remain with the state, he said.
He said the Cabinet Committee on Privatization approved the transport model in order to separate air transport business from non-air transport business.