Money-strapped Pakistan is more likely to privatize its nationwide flag service by the primary week of August, a media report stated on Wednesday.
The much-anticipated privatization of Pakistan Worldwide Airline (PIA) has been on high of the agenda of the federal government after the groundwork was accomplished by the caretaker authorities that was in place to arrange elections.
Citing sources near the event, personal tv channel ARY Information reported that six firms have been shortlisted for the privatization of the nationwide flag service.
The shortlisted firms have sought particulars associated to PIA and requested for time until July to assessment the monetary problems with the nationwide airline.
In the meantime, the authorities are offering the required data to the consortium of shortlisted firms.
It’s pertinent to say right here {that a} consortium of six firms has been pre-qualified for privatizing Pakistan Worldwide Airways (PIA).
In line with the main points, the businesses that lie within the pre-qualified consortium will now be eligible to take part within the bidding course of for the PIA.
The choice was made through the Privatisation Fee Board assembly this week which was chaired by Privatization Minister Aleem Khan, who emphasised the federal government’s dedication to making sure a clear and environment friendly privatisation course of for all loss-making state-owned firms.
To take care of transparency and foster confidence, Khan proposed broadcasting the privatisation proceedings dwell on media platforms to guarantee all stakeholders concerning the integrity of the method.
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
