Rs 135 billion PIA bid cleared by Cabinet Committee on Privatization

The Cabinet Committee on Privatization (CCoP) on Tuesday approved the Rs 135 billion bid of the Arif Habib-led consortium for acquiring 75 percent shares of PIA and recommended its approval by the Cabinet. The CCoP met here with Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar in the chair. The Secretary, Ministry of Privatisation, provided a detailed briefing on the future course of action of PIACL’s Privatization. The Deputy Prime Minister urged all concerned to take timely action to ensure early finalisation of the privatisation, with the hope and desire that this will lead to PIA regaining its past glory. The meeting was attended by Ministers of Power, Advisors to the PM on Privatisation, Industry and Production; SAPMs Tariq Bajwa and Bilal Kiyani; Federal Secretaries of Cabinet, Privatisation, Defence, Law, Power, and Privatisation Commission, industries, and other senior officers from concerned departments.