A meeting of the Cabinet Committee on Privatisation, chaired by Deputy Prime Minister Ishaq Dar, was held, during which the committee approved the PIA’s bid of Rs135 billion.
According to details, the Ministry of Privatisation secretary briefed the committee on the future course of action regarding the privatisation of PIA. The Cabinet Committee on Privatisation approved the bid of Rs135 billion submitted by the Arif Habib-led consortium for 75 per cent of the PIA’s shares. The committee also recommended that the matter of bid approval be submitted to the federal cabinet.
Meanwhile, Deputy Prime Minister Ishaq Dar directed all relevant institutions to ensure that the privatisation process is completed in a timely and transparent manner. “It is hoped that this initiative will enable the PIA to once again return to its golden era,” he said.