The privatization of Pakistan’s national airline, PIA, is set to take place on December 23 as scheduled, with the new investor required to make an investment of Rs80 billion.
The Senate’s Standing Committee on Privatization was also informed that the process of privatizing electricity distribution companies will commence next year.
During the meeting of the Senate Standing Committee on Privatization, officials stated that the bidding process for PIA will occur on December 23, with 51 to 100 percent of shares being sold. According to the officials, the investor will need to invest 80 billion rupees immediately after privatization, and the bidding process will be broadcast live.
The committee was also informed that the privatization of three electricity distribution companies will begin at the start of next year, with ISCO, FESCO, and GEPCO included in the first phase. Each distribution company will have a separate bidding process, with the aim of completing the privatization of all three by mid-next year.
Officials also briefed the committee on the privatization of other state-owned entities, including the Guddu and Nandipur power plants, and clarified that if privatization does not proceed, the matter will be presented again before the cabinet.
