PIA privatisation forwarded to cabinet committee for final approval

The Privatisation Commission moves to refer PIA privatisation to Cabinet, says Minister Aleem Khan.

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The Privatisation Commission Board has decided to forward the matter of Pakistan International Airlines (PIA)'s privatisation to the Cabinet Committee for further consideration.

A meeting, chaired by Federal Minister for Privatisation and Investment, Abdul Aleem Khan, also reviewed various matters related to the privatisation of PIA and approved relevant recommendations, Express News reported.

Minister Abdul Aleem Khan stated that the privatisation process will be conducted in accordance with laws and regulations, keeping the national interest in mind.

He emphasised that the final decision on the privatisation of PIA and other state-owned enterprises will be made by the Cabinet Committee, and efforts will be made to improve the process moving forward.

Minister Aleem Khan also directed the swift progression of the privatisation of PIA and other state institutions without delay.

The minister reiterated his commitment to the country’s betterment, stating that the Privatisation Commission Board cannot exclude any institution that qualifies for privatisation. He also highlighted the need to learn from the privatisation process of PIA to improve future procedures.

Abdul Aleem Khan suggested making the terms and conditions for the privatisation process and pre-qualification criteria more attractive.

Members of the Privatisation Commission Board expressed various suggestions and made important decisions regarding PIA and the privatisation process.

Aleem Khan listened to the recommendations of all board members individually. The briefing revealed that the board had worked diligently, and airlines such as Turkish and Singapore Airlines showed interest in the privatisation of PIA.

Minister Aleem Khan mentioned that the framework set by the caretaker government for the privatisation of PIA will be followed, while also taking into account the concerns of institutions involved in future privatisations.

A three-member committee was also formed during the Privatisation Commission Board meeting to oversee the privatisation process.

Moreover, a meeting of the European Aviation Safety Committee is scheduled to begin in Brussels on November 19, 2024, where the potential resumption of Pakistani airlines, including national carrier PIA, in European airspace is expected to be discussed.

The meeting will bring together representatives from the European Union Aviation Safety Agency (EASA), aviation officials from various European nations, and a delegation from CAA, Express News reported.

Sources say that Pakistan’s Civil Aviation officials have finalized a plan for the restoration of Pakistani airlines' operations in European countries. The proposal, which aims to address the concerns that led to the initial restrictions, will be presented to European authorities.

It’s worth noting that in July 2020, a scandal involving suspicious pilot licenses led to a ban on all Pakistani airlines, including PIA, in Europe and the UK.