ISLAMABAD: Pakistan to expedite the privatization of Pakistan Worldwide Airways (PIA), with the method now anticipated to be accomplished by June, 4 to 5 months forward of the unique October deadline, ARY Information reported citing sources.
In accordance with sources, PM Shehbaz has tasked the Privatization Fee to speed up the method. The federal government has additionally determined to enhance PIA’s monetary well being earlier than the privatization.
Moreover, the federal government plans to reopen routes to the USA, with safety audits set to be carried out in collaboration with the US Federal Aviation Authority. American consultants are anticipated to go to Pakistan in March or April to facilitate the reopening of those routes.
PIA presently has 12 Boeing 777 plane, with six of them operational. The airline plans to extend its fleet of white-body plane for European routes.
Sources additional revealed that bids for PIA’s privatization are anticipated to be invited within the coming weeks.
Learn extra: Loss-making PIA to ‘take into account’ wage increase of workers
Earlier, Federal Minister for Privatization, Aleem Khan held the Federal Board of Income (FBR) accountable for the failed Pakistan Worldwide Airways sale.
This he said whereas expressing his views within the Senate Standing Committee on Privatization, which met underneath the chair of Senator Talal Chaudhry right here in Islamabad.
The assembly mentioned the explanations behind the decrease bid for PIA sale. Aleem Khan mentioned the method of Pakistan Worldwide Airways privataization began on November 28, 2023, earlier than he assumed charged because the privatization minister.
He mentioned PIA’s losses had been, Rs830 billion on the time of privatization and the method can’t be halted as soon as it begins.
Holding Federal Board of Income (FBR) accountable for the PIA’s failed privatization, Aleem Khan mentioned the physique was requested to take away provision of GST on the shopping for of latest plane, however they didn’t settle for it.