Govt expedites PIA privatisation

The federal government has prepared a framework for the division of assets and liabilities of the national flag carrier—the Pakistan International Airlines (PIA)— as part of its privatisation process. According to official documents seen by The Express Tribune, the airline’s assets and liabilities have been divided between the PIA and a holding company. The government has disclosed that the total value of the PIA’s assets is Rs171.43 billion. Once the privatisation process is completed, the PIA’s assets along with its liabilities will be divided between the holding company and the new company taking over the airline. The documents show that out of the PIA’s assets worth Rs171.43 billion, assets worth Rs146.57 billion will be transferred to the new management of the PIA, while assets worth Rs24.86 billion will remain with the holding company.