PIA Privatization at Halt as Revival in The Pipeline
The minister said that the privatization process was delayed due to the covid-19 pandemic
Pakistan International Airline (PIA) will no longer be privatized and the government will take steps to revive the airline, said Privatization Minister Mohammad Mian Soomro.
“Government has plans to reinvigorate PIA and privatization will be considered later”, Mian Soomro added.
On the other hand, the Privatization Commission auctioned the Services International Hotel in Lahore against the bid of Rs 1.951 billion.
The privatization minister said that the auction was carried out transparently on the directives of Prime Minister Imran Khan.
Mohammad Mian Soomro, who chaired the auction, maintained that the privatization of Jinnah Convention Center, SME Bank, and First Women Bank are in the pipeline too.
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“The privatization process is being accelerated to help reduce the debt on the country from the money raised by the auctions”, he added.
The minister asserted that the process was delayed due to the covid-19 pandemic but now the government has plans to expedite it.
While revealing about the privatization of Pakistan Steel Mills, Mian Soomro said that the expression of interest from the investors would be invited soon.
