Plan for PIA sell-off submitted

Financial adviser appointed by the government for the privatisation of the Pakistan International Airlines (PIA), has submitted a comprehensive plan, containing an investment roadmap for ntional-flag carrier as well as the its immediate funding requirements.

According to a statement from the Privatisation, a meeting of the Privatization Commission, attended by the financial adviser, Ernst & Young, was held at the ministry, chaired by Caretaker Privatisation Minister Fawad Hasan Fawad.

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During the meeting, the business plan -- covering the investment roadmap for PIA as well as the airline's immediate funding requirements was discussed. The proposed plan also covers the capital and fleet needs of the airline in the short- and medium-term in order to make it globally competitive.

On the occasion, the minister directed for the review of the estimates before submitting the plan to the federal cabinet for approval.