ISLAMABAD: Pakistan’s Privatisation Commission on Wednesday approved the privatisation of three state-owned entities including the Pakistan International Airlines (PIA).
The decision took place during the meeting of the board of directors of the commission. The commission decided to privatise Heavy Electrical Complex, Nation Power Construction and 26 per cent shares of the national airlines.
Reports say that the management control of the PIA would also be privatised.
“The shares of the PIA will be privatie on the same model which was adopted for Pakistan Telecommunication Limited. Under this model, the government will not transfer the airline’s liabilities to the buyer,” an official of the commission said.
The decision of the commission will now be tabled in meeting of the Cabinet Committee on Privatisation.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription