Bidding for PIA will be broadcast live, Aleem Khan tells senators
Business
Minister says entire privatisation process will be transparent, publicly accessible
ISLAMABAD (Dunya News) – Privatisation Minister Abdul Aleem Khan announced in the Senate on Wednesday that the bidding process for the national flag carrier, Pakistan International Airlines (PIA), would be broadcast live nationwide.
In response to a call-attention notice regarding the perceived lack of transparency in all stages of PIA's divestment and privatisation, including financial processes, expression of interest issuance, bidding procedures, contract awards and the segregation of core and non-core assets and liabilities, the minister assured that the entire process would be transparent and publicly accessible.
“Nothing will be concealed from the public or their representatives,” he said.
The minister underscored that the privatisation of PIA, which has accumulated losses amounting to Rs830 billion, was in the country’s best interest. He expressed hope for support from other parties for this initiative.
He also informed the House that the pre-qualification process would be completed soon.
Khan refrained from engaging in a blame game, but acknowledged that PIA's deficit had grown over the years.
According to the minister, at present 18 PIA planes are in operation, with a workforce of 10,000 employees serving these aircraft. That said, Khan raised the question of what would happen to these employees if PIA were to be closed down.
He informed the House that a certain condition had been incorporated under which the company winning the bid would be bound to retain PIA employees for three years following the bidding process.
Khan expressed optimism that more aircraft would be added to PIA's fleet following privatisation.
The minister praised the PIA personnel, stating, “PIA has the best captains and staff of all the airlines we have travelled with,” but he remarked that without privatisation, the airline could not be operated in its current manner.
