Pakistan Set to Privatize National Airline

Pakistan is set to privatize its national airline, Pakistan International Airline (PIA), by early August. Six companies have been shortlisted for the bidding process. The process aims to ensure transparency, as emphasized by Privatization Minister Aleem Khan.

Cash-strapped Pakistan is on the verge of privatizing its national flag carrier by the first week of August, according to a media report on Wednesday.

The long-anticipated privatization of Pakistan International Airline (PIA) has topped the government's agenda, with groundwork laid by the caretaker government responsible for organizing elections.

Sources close to the development revealed to ARY News that six companies have been shortlisted for PIA's privatization process. These companies have requested detailed information about PIA and time until July to review financial issues.

Authorities are in the process of providing the necessary information to the consortium of shortlisted companies. Notably, these six companies have been pre-qualified to participate in the bidding process for PIA.

During a recent Privatisation Commission Board meeting, chaired by Privatization Minister Aleem Khan, he highlighted the government's commitment to a transparent and efficient privatization process for all loss-making state-owned enterprises. To maintain transparency and foster confidence, he proposed broadcasting the privatization proceedings live on media platforms to assure all stakeholders of the process's fairness.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)