ISLAMABAD: Caretaker Privatization Minister Fawad Hassan Fawad on Saturday (13th Jan, 2024) said that all the legal formalities had been completed for the privatization of Pakistan International Airlines (PIA).

Talking to a private news channel, he outlined various stages of the process for the PIA’s privatization, saying that the Privatization Commission was diligently executing the task.

Fawad said that in order to enure transparency in the PIA’s privatization, the representatives of Civil Aviation Authority (CAA), besides the ministries of education, law, and finance had also been taken on board.

Fawad said the caretaker government was carrying out the privatization under the constitutional amendments enacted by the previous elected government. The decision to the effect was taken by the then government to prevent further deterioration of the economy, he added
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The minister rejected rumors of negotiations about buying of the PIA by a foreign government. Such baseless allegations were being leveled by certain elements for their vested interests, he added.

To a question, he said that the caretaker federal cabinet would ensure that no employee of the PIA was unjustly deprived of their legitimate rights.

He said the problems being faced by the national airline due to governance issues, financial mismanagement and appointment of individuals ill-equipped to manage the aviation industry.

He underscored the urgent need for reforms to prevent further deterioration of public institutions, including the PIA.

To a query, the minister said the general elections would be held on the scheduled date of February 8 and the caretaker government was extending fully support the Election Commission of Pakistan (ECP) in conducting the polls.

Newspakistan.tv/APP