ISLAMABAD: The federal cabinet, chaired by Prime Minister Muhammad Shehbaz Sharif, on Tuesday approved key decisions related to the privatisation of Pakistan International Airlines (PIA) and reiterated the government’s firm commitment to transparency, political dialogue and economic reform.
A special meeting of the federal cabinet was held here at the Prime Minister’s House, during which the cabinet formally endorsed the decisions taken earlier in the day by the Cabinet Committee on Privatisation regarding PIA, a Prime Minister’s Office news release said. The cabinet also offered prayers for the smooth and successful completion of all stages of the privatisation process.
Addressing the cabinet, Prime Minister Shehbaz Sharif underscored that the PIA privatisation would be carried out in a transparent, credible and reliable manner, noting that the bidding process would be broadcast live on television. He said sealed bids would be placed in see-through boxes, with envelopes opened only after price determination, and the award would be made through a competitive process to the highest bidder.
“This is one of the largest financial transactions in Pakistan’s history, and therefore the entire process must be transparent and credible,” the prime minister said, adding that the outcome of the bidding would be brought back to the cabinet for final approval. He urged cabinet members to actively participate so decisions could be taken with collective wisdom.
