Islamabad (Commerce Desk): Adviser to the Privatization Commission, Muhammad Ali, has stated that in the ongoing privatization process, the government has given top priority to transparency, national interest, and institutional improvement to place Pakistan International Airlines (PIA) on a stable footing.
Addressing a press conference alongside Information Minister Atta Tarar, Muhammad Ali said the government had two major objectives: to secure a better financial price and to ensure that the new buyer makes substantial investment in the airline.
He explained that under the agreement, the government will receive Rs 55 billion directly, while the value of the airline’s assets is estimated at around Rs 45 billion. In addition, Rs 125 billion will be invested directly into PIA in the form of capital for the company’s improvement and operational needs. This brings the airline’s overall valuation to approximately Rs 180 billion.
Praising the performance of the Privatization Commission’s team, he said the team worked exceptionally hard throughout the process, and the government is confident that the transparent procedure will prevent any unnecessary complications or issues.
He also appreciated the role of the media, stating that responsible reporting provided strong support to the government, for which it is grateful.
