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Articles for tag: PIA, plan, privatization, set, SOEs, year

August 8, 2025

News Desk

PIA Between 24 Soes set for privatization under a five -year plan

An airplane of Pakistan’s international airlines is observed in this file photo. – AFP/file Govt reveals the five -year, three -phase privatization course. First phase to privatize 10 state -owned businesses. The Council of Ministers approves the 24 Soes integration into the program. Islamabad: Minister of Privatization Abdul Aleem Khan on Thursday, at the National Assembly, a five-year plan (2024-29) for the privatization of 24 state-owned enterprises (SOE) in three phases, The news reported. The plan, presented during the question time in a written response to MNA Ramesh Lal, included a complete list of entities sold for sale. Underneath the

June 20, 2025

News Desk

PIA attracts five offers as Pakistan promotes the first major privatization in decades in decades

A picture of a PIA level. – Apply/file Pakistan draws interest from five places in selling PIA. Candidates include Lucky Cement, Arif Habib, Airblue. The government offers a 100% share, debt was unloaded. In its efforts to sell the national airline, Pakistan has received interest from five parties, including business teams, the privatization ministry said on Thursday. Bids were submitted before June 19th for the acquisition of up to 100% of International Airlines (PIA), which has raised more than $ 2.5 billion in losses in about a decade. Still, after a significant restructuring, it published its first operating gain in

March 26, 2025

News Desk

The Committee of the Council of Ministers Greenlights plans to accelerate the privatization of PIA loss

A Pakistani International Airlines (PIA) plane is preparing to take off at Alama IQBal International Airport in Lahore, February 1, 2012. The Council of Ministers’ Privatization Committee (CCOP) approved Tuesday a plan to speed up the privatization of the Pakistan International Airlines Corporation (PIACL), including the assignment of 51-100% share capital along with the management control. Deputy Prime Minister and Foreign Minister Ishaq Dar chaired the meeting, according to an official statement. The Deputy Prime Minister has confirmed the government’s commitment to the privatization of Piacl, with the aim of unlocking its full potential and facilitating financial pressure on the

March 21, 2025

News Desk

6,000 workers in the utility store to be fired as privatization benches

Listen to the article The government has decided to place 5,000 permanent employees of Utility Stores Corporation (USC) in a surplus team, and will be fired 6,000 consultants and everyday workers, according to a report provided by the Senate Industry and Production Committee. The meeting, chaired by Senator Aoun Abbas, provided information on the future of USC, revealing that the company is on the privatization list of the government. The USC CEO told the Commission that the privatization process was delayed due to the lack of two -year audit. Privatization will proceed as soon as the check is completed, with

March 6, 2025

News Desk

PIA privatization must be completed in three months: Aleem Khan

A representation of the PIA plane image. – AFP/file 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

January 27, 2025

News Desk

Can privatization cause transformation?

Listen to the article Islamabad: The recently released prime minister’s economic transformation agenda recognizes that “many SOEES-some intense losses-are still in government books. Cumulative losses from losses were $ 3.7 billion (1% of GDP) (1% of GDP) FY21 and $ 2.9 billion (0.9% of GDP) FY22. The correct diagnosis is already half of the treatment, and in this respect, the authors of the prime minister’s economic transformation agenda and the implementation plan deserve an assessment. However, the other half is the solution, including political commitment. The document repeats the old man of the privatization of commercial state advertising ads on

December 22, 2024

News Desk

PIA has been earmarked for debt-free privatization with IMF assistance for aircraft purchases

View of Pakistan International Airlines (PIA) passenger plane. — APP/File IMF waives taxes, shifts liabilities to help PIA sale. The resumption of European flights boosts privatization prospects. Privatization to restore PIA’s competitiveness and efficiency. ISLAMABAD: Pakistan International Airlines (PIA) is set to be privatized without its existing liabilities in a bid to boost its appeal to potential investors, The News he quoted Federal Privatization Minister Abdul Aleem Khan as saying on Sunday. The minister, during the announcement, reaffirmed the government’s determination to address the long-standing challenges that have hindered the privatization of PIA. “Various issues holding back the privatization of

November 16, 2024

News Desk

The government is considering selling PIA to G2G after a failed privatization bid

Crew members disembark from a Pakistan International Airways (PIA) flight at Kabul airport, Afghanistan on September 13, 2021. — AFP Dar-led CCoP rejects Blue World City’s Rs 10 billion privatization offer. The government is considering deals with China, Gulf countries including Qatar. These countries can play a key role in privatizing PIA, says an official. ISLAMABAD: After failing to attract the required bid to privatize Pakistan International Airlines (PIA), the incumbent government is now considering a government-to-government (G2G) sale of the national carrier, The News he said, citing an official on Saturday. The Cabinet Committee on Privatization (CCoP), chaired by

November 1, 2024

News Desk

The Government will conduct the final bidding for the privatization of PIA with the selected bidder

A representational image of the PIA plane. — AFP/File Government wants to offload 51-100% stake in debt-ridden airline. Only Blue World City meets the deadline for submission of documents. There are concerns about the government’s ability to honor long-term agreements. KARACHI: The current government will on Thursday conduct the bidding process for the privatization of Pakistan International Airlines (PIA) with a single candidate. The development comes as Prime Minister Shehbaz Sharif’s government seeks to offload a 51-100 percent stake in debt-ridden airlines to raise capital and reform bleeding state-owned enterprises as envisioned in a $7 billion International Monetary Fund (IMF)

October 30, 2024

News Desk

Only one bidder remains as PIA privatization nears auction deadline

A Pakistan International Airlines (PIA) plane prepares to take off at the Alama Iqbal International Airport in Lahore. — Reuters/File Just one day left in the deadline for the PIA privatization tender. Concerns are emerging about possible delays in the PIA sale. Privatization of PIA is a priority under the IMF program. ISLAMABAD: Only one consortium has submitted pre-qualification documents for the privatization of Pakistan International Airlines (PIA) even as the bidding deadline approaches. With just one day left in the deadline, concerns about possible delays in the sale, sources familiar with the situation said. The Privatization Commission has been

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