KARACHI: The privatization process of Pakistan International Airlines (PIA) has entered its final phase as senior management of the national air carrier held key meetings with officials of all four bidding consortiums, including a final session with the CEO PIA, media reported citing sources.
According to details, separate meetings of the consortiums were also held in Karachi, Lahore, and Islamabad, while PIA and the Privatization Commission continued to provide records on a daily basis. Sources confirmed that all four consortiums are taking the PIA privatization process seriously and are actively preparing their bids.
For bid preparation, financial and HR experts from the consortiums have obtained complete operational and administrative records from PIA. The final briefing was attended by the CEO PIA, Chief Finance Officer, Chief HR Officer, and other senior PIA officials.
Sources said all consortiums will submit their bids for Pakistan International Airlines on December 23, and the airline will be handed over to the consortium offering the highest bid.
At present, PIA operates 34 aircraft on more than 90 domestic and international routes. Detailed information regarding PIA’s 7,500-plus employees has been shared, including pilots, engineers, cabin crew, and ground staff. Records of Pakistan International Airlines staff posted in Karachi, Lahore, Islamabad, and overseas stations were also provided.
In addition, data related to PIA’s daily revenue from domestic and international routes has been handed over. Sources said records of retired PIA employees were also shared, clarifying that pension liabilities will not fall under the new management.
The Prime Minister’s Secretariat has directed full cooperation with the consortiums. Authorities confirmed that the PIA bidding process will be conducted transparently and broadcast live on media.
Earlier, the national carrier Pakistan International Air Lines and Canadian High Commission have decided to take joint measures to improve aerial contact, the PIA spokesman said.
According to the spokesman, the Canadian High Commissioner on Friday called on Chief Executive Officer (CEO) PIA Amir Hyat in Karachi.
The meeting discussed bilateral relations, trade and cultural exchange while they also principally agreed to increase investment and cultural cooperation.
The PIA CEO assured a code share and cargo agreement with the Canadian Airlines.
It is expected that the agreement will result in increase of trade volume and Pakistan Canada aerial contact.
The PIA will facilitate and provide access to Canadian products to Pakistani markets. Whereas during the meeting the PIA has been given invitation to better access to North America market. –Agencies
