Privatisation Commission approves second attempt to divest PIA
The Privatisation Commission on Tuesday recommended to the Cabinet Committee on Privatisation transaction structure for the second attempt of Pakistan International Airlines Company Ltd (PIACL) based on divestment of 51 to 100 per cent shares capital of the national flag carrier. The proposed divestment will be together with the management control of the airline as well. The final terms and conditions for the transfer and acquisition of equity stake will be finalised during the course of bidding process and set out in the bid documents for approval by the Cabinet Committee on Privatisation. The approval of PIACL transaction structure was given at a meeting of Privatisation Commission Board, chaired by newly appointed Adviser to the Prime Minister on Privatisation Muhammad Ali.