51 % Share, Management Of PIA To Remain With Government: Senate Told

Minister for Privatization Daniyal Aziz on Wednesday informed the Senate that 51 per cent share of Pakistan International Airlines and its management would remain with the government while 49 per cent share will be sold by April 15.

ISLAMABAD, (UrduPoint / Pakistan Point News - 21st Feb, 2018 ) :Minister for Privatization Daniyal Aziz on Wednesday informed the Senate that 51 per cent share of Pakistan International Airlines and its management would remain with the government while 49 per cent share will be sold by April 15.

Responding to a Calling Attention notice raised by Farhatullah Babar and Saher Kamran regarding privatization of PIA and Pakistan Steel Mills as decided by the Cabinet Committee on Privatization on February 16, the minister said the process was started under the PIAC Conversion Act 2016 unanimously passed by the House.

He said the Speaker had set up a committee which had representation of all political parties to bring improvement in the national flag carrier. The committee has drafted the Act which was unanimously passed by the House, he said.

He said privatization ministry was set up in 1991 and Pakistan Peoples Party also remained party to the process. He said the government intended to separate transport business from the airline's assets and the entity would be owned by the state.

Majority shares and management control would remain with the state, he said. He said the Cabinet Committee on Privatization approved the transport model in order to separate air transport business from non-air transport business.

Regarding PSM, the minister said neither land of PSM was being sold nor transferred to any third party. He said PSM was not in privatization list and its land would be given on lease for 30 years to generate revenue. APP/raz-qsr