PIA privatisation: PPP decides to give govt tough time

PIA privatisation, PPP, Pakistan airline

KARACHI: Pakistan People’s Party (PPP) has thrown its weight behind the Pakistan International Airlines’ (PIA) employees protesting against proposed privatisation of the airline, ARY News reported on Monday.

PPP Chairman Bilawal Bhutto met a delegation of PIA employees – led by President People’s Unity CBA Hidayatullah Khan.

During the meeting, a strategy was also finalised as to how to foil the privatisation of the national flag carrier.

Speaking on the occasion, Bilawal said that what he had discussed with the Pakistan Muslim League-Nawaz (PML-N) was not the PIA privatisation, but it’s restructuring.

“Just like the PML-N lies to the nation in political matters, it is not stating the facts about the discussions we had on the subject,” he said, vowing that they will not allow a single worker of the airline to get unemployed.

It is pertinent to mention here that Caretaker Prime Minister Anwaarul Haq Kakar had already directed authorities concerned to expedite the privatisation process of Pakistan International Airlines (PIA).

Meanwhile, the Privatisation Commission had also approved the appointment of British multinational Ernst & Young as the financial advisor for the privatisation of Pakistan International Airlines (PIA), with the aim of preparing the loss-making entity for sale.

Sources told ARY News that the commission had received technical and financial proposals from eight financial advisory firms.

However, it approved the appointment of British multinational Ernst & Young as the financial advisor to prepare plans for privatisation of the national flag carrier.

The adviser would lead a consortium to manage the planned stake sale of the Pakistan International Airlines (PIA), sources added.

Read more: ECC approves Rs8 b bridge financing for PIA

Earlier, the Economic Coordination Committee (ECC) of the Cabinet approved a Rs. 8 billion bridge financing package for Pakistan International Airlines (PIA).

The financing will be provided through the Civil Aviation Authority’s (CAA) resources to meet PIA’s urgent overdue payment obligations.

The ECC allowed the Aviation Division to proceed with the bilateral arrangement between the CAA and PIA.

The Caretaker Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar presided over the meeting, according to news statement issued by the finance ministry.

The Aviation Division submitted a proposal for provision of financial support to PIACL through the Civil Aviation Authority for certain emergent needs of the airline.



from ARY NEWS https://ift.tt/3MkLCZ6

Comments

Post a Comment

Popular posts from this blog

Transport Canada declares Pakistan’s aviation security satisfactory

Image
KARACHI: In a major development, the security delegation from Transport Canada on Wednesday completed the security audit of Jinnah International Airport, ARY News reported. According to Airports Security Force (ASF), the team conducted thorough inspection of the security arrangements in place at the airport and found them satisfactory. During the audit, the ASF team comprising National Inspectors gave a briefing to the Transport Canada team. The assessment team was given briefing on security deployment, entry control, screening, issuance of passes and addressing emergency situations. The Transport Canada team commended the efforts of the ASF for taking additional measures to ensure the safety of the Pakistan International Airlines’ (PIA) direct flights to Canada. The team also termed the overall aviation security measures satisfactory at the international airports of Pakistan. It is pertinent to mention that the two-member delegation from Transport Canada arrived in Pakistan on...
Read more

Woman throws eight-year-old child into Karachi’s nullah

Image
KARACHI: A tragic incident was reported from Karachi’s old Golimar area near Eidgah Ground when an 8-year-old child was allegedly thrown into the sewerage drain by a woman believed to be mentally ill, ARY News reported on Tuesday. The local police claimed that the woman – believed to be mentally ill – picked up the child, who was playing nearby, and threw him into the sewerage drain and fleeing the scene. The father of the child immediately reported the incident to authorities, which led to initiate a rescue operation. Rescue 1122 teams have been working tirelessly form past three hours in search of the missing child. On the other hand, the police are investigating the case, and efforts are underway to apprehend the suspect. from ARY NEWS https://ift.tt/c1ZzapO
Read more

Biden tests positive for Covid, fueling health worries

Image
US President Joe Biden tested positive for Covid with mild symptoms Wednesday, shortly after conceding he would consider dropping his reelection bid if doctors diagnosed him with a serious medical condition. The 81-year-old Democrat gave reporters the thumbs up and said “I feel good” as he cut short a trip to Las Vegas and flew to his beach home in Delaware to go into isolation, which will take him off the campaign trail for days. Biden thanked well-wishers on X, adding that “I will be isolating as I recover, and during this time I will continue to work to get the job done for the American people.” The infection comes at a critical moment for Biden’s campaign, with the president seeking to show he is up to the job after a disastrous debate performance against rival Donald Trump sparked concerns about his health and calls from some Democrats for him to step aside. It is also the latest development in a tumultuous few days in an already frenetic White House race that saw Trump survi...
Read more