Work on PIA restructuring plan expedited
Work on Pakistan International Airlines (PIA) reorganisation plan for privatization has been accelerated.
According to reports, the PIA administration has requested applications from legal and corporate entities for the national flag carrier's reorganisation plan.
The applications must be submitted by October 6 to the Department of Contract Management.
The PIA's assets, including property, debts, planes, and staff, will be transferred to the new business, and the PIA will be presented to the investor as a debt-free organisation ready for privatisation.
Earlier, Fawad Hasan Fawad, the caretaker Minister for Privatisation, had a meeting with various stakeholders to discuss the reorganisation of Pakistan International Airlines (PIA), which will lead to a privatisation process.
During the meeting, which was chaired by Privatisation Minister Fawad Hasan Fawad, "clear timelines regarding the process were agreed with a view to meeting the target set by the Prime Minister and the Cabinet."
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