PIA privatization must be completed in three months: Aleem Khan

• All concerns of interested parties treated correctly: Aleem Khan
• Says the new plan in progress to make Pia privatization more attractive
• PIA is ready to become profitable again by new measures, he says.

Investment and privatization Minister Abdul Aleem Khan said Thursday that the government would complete the privatization process of Pakistan International Airlines (PIA) over the next three months.

In a statement, the Minister of Privatization said: “All the concerns of the parties interested in the privatization process of the airline have been properly addressed.”

He said the government has decided to make changes depending on the preferences of the parties interested in buying a PIA share.

“To make the privatization of the PIA more attractive, a new map map is provided and it is expected that all stages of this privatization process will be completed within the next three months,” he added.

The minister emphasized that there is the expectation of better expressions of interest by investors this time, as the introduction of PIA flights to Europe has made the environment more profitable and favorable.

“Due to recent measures, the National Airline is ready to become profitable again,” he added. Abdul Aleem further shared that after Europe, flights to the United Kingdom would begin within the next three months.

He stressed that PIA is the first option for traveling for the 240 million Pakistanis. After Europe and the United Kingdom, flights to the United States and the Far East will be operational in the next phase, the minister said.

The privatization minister assured that with positive steps, PIA’s credibility will be restored and the airline would return to its climax.

He also claimed that there was no doubt that Pia was still able to profitable once again. The minister expressed hope that this time, the privatization process would be better and more feasible, which would have a positive impact on the overall privatization process.

The government is expected to invite expressions of interest (EOI) for the privatization of PIA in March, with the aim of transporting the airline to private hands before the use said, the news said they were referring to a privately private employee to

The previous PIA privatization attempt has fallen due to investor concerns, but the key obstacles have now been cleared, the official added.

The International Monetary Fund (IMF) approved the resignation of 18% of the new aircraft markets and allowed the government to absorb the negative equality of RS45 billion RS45 billions, according to a report published in February.

During a meeting of the Standing Committee of the National Assembly for privatization under the chairmanship of MNA Faroq Sattar, USman Bajwa secretary informed the legislators of the continuing process and revealed that the $ 6.8 million consulting fee had already been paid.

The Commission was also briefed on PIA’s real estate, including 26 properties under Pia Holdings and five under the airline itself. A prime plot in the blue area of ​​Islamabad, worth RS10-12 billion, remains under consideration. In addition, Pia Holdings has seven properties abroad, including the Scribe Hotel in Paris and the Roosevelt Hotel in New York, which are categorized as commercial real estate. The current Roosevelt Hotel lease will end in May and the starting process of the property will begin with a three -month warning period.