Minister hints at PIA privatisation with zero liability

Federal Privatisation Minister Abdul Aleem Khan has hinted at selling Pakistan International Airlines (PIA) to a private buyer with zero liabilities. While addressing a press conference on Sunday, the minister also welcomed provincial governments to take over the airline’s control and run it in a professional manner. He said that, as per the existing framework, around Rs600 billion of PIA’s liabilities of over Rs830 billion debt have been parked in a holding company, while the remaining Rs200bn will be transferred to the private buyer. Mr Khan added that after failing in its first attempt to sell PIA, the government might devise a new framework to clear the Rs200bn liabilities and “sell a clean PIA” to a private buyer.