Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Separation of PIA's Core and Non-core Departments Approved by Cabinet Committee on Privatization
Today, Cabinet Committee on Privatization meeting chaired by Prime Minister Shahid Khaqan Abbasi approved separation of PIA's core (air transportation) and non-core departments.
PM Abbasi said that years of mismanagement and negligence damaged PIA financially that also created problems for airline's employees.
PM Abbasi also advised authorities to prepare proposals for restructuring PIA after thorough research/study. The process should respect interests/rights of airline's employees.
Abbas
Today, Cabinet Committee on Privatization meeting chaired by Prime Minister Shahid Khaqan Abbasi approved separation of PIA's core (air transportation) and non-core departments.
PM Abbasi said that years of mismanagement and negligence damaged PIA financially that also created problems for airline's employees.
PM Abbasi also advised authorities to prepare proposals for restructuring PIA after thorough research/study. The process should respect interests/rights of airline's employees.
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Pakistan People's Party (PPP) leadership has threatened to stage strong protests against PIA privatization inside and outside the parliament.
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Federal Cabinet meeting to be chaired by Prime Minister Shahid Khaqan Abbasi on February 20 is expected to ratify Cabinet Committee on Privatization decision to inititate PIA privatisation process.
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
FPCCI Supports PIA Privatization
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday endorsed the privatization of Pakistan International Airlines (PIA).
FPCCI Regional Chairman and Vice President Chaudhry Arfan Yousaf said that low performing entities were burden on national exchequer and country's economy could not afford loss-making institutions.
Source: urdupoint.com
Abbas
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday endorsed the privatization of Pakistan International Airlines (PIA).
FPCCI Regional Chairman and Vice President Chaudhry Arfan Yousaf said that low performing entities were burden on national exchequer and country's economy could not afford loss-making institutions.
Source: urdupoint.com
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Metro buses in loss from day one. Orange train is projected to be in loss. Post Office in loss. PIA was a highly profitable organization till about 20 years back. It can still be turned around. What do FCCI people know about commercial aviation trade? Supreme Court should stop government from this at this time as they dont have any time left to conclude any such deal.
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
PIA, PSM, others: sell-off of white elephant likely before polls
Details: https://fp.brecorder.com/2018/02/20180220345521/
PPP moves parliament against privatisation of PIA
Details: https://www.thenews.com.pk/print/283206 ... of-pia-psm
Abbas
Details: https://fp.brecorder.com/2018/02/20180220345521/
PPP moves parliament against privatisation of PIA
Details: https://www.thenews.com.pk/print/283206 ... of-pia-psm
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
It is likely that the Prime Minister may have asked FPCCI to give such a statement in support of PIA's selling.
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Its because Pakistan once again needs IMF bailout package.
Current account deficit has reached $18 billion dollars.
Pakistan needs 10 billion dollars to avoid debt default and the only place is IMF and World Bank.
First thing they will say why have you not sold off PIA and Steel Mills.
Pakistan should have sold off these two companies in 2013.
Current account deficit has reached $18 billion dollars.
Pakistan needs 10 billion dollars to avoid debt default and the only place is IMF and World Bank.
First thing they will say why have you not sold off PIA and Steel Mills.
Pakistan should have sold off these two companies in 2013.
P.I.A
God's International Airline
God's International Airline
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Today, Privatization Minister Daniyal Aziz informed Senate Committee on Privatization that:
* PIA privatization process being done according to act/law passed by the parliament.
* Core and non-core departments/business of PIA are being separated before the start of airline's privatization.
* 49% of PIA shares will be sold under airline's privatization process.
* Government will retain administrative control of the airline.
Senate Committee on Privatization Chairman Senator Mohsin Aziz.
Privatization Minister Daniyal Aziz at Senate Committee on Privatization meeting.
Senators representing various political parties of Pakistan at Senate Committee on Privatization meeting.
Abbas
* PIA privatization process being done according to act/law passed by the parliament.
* Core and non-core departments/business of PIA are being separated before the start of airline's privatization.
* 49% of PIA shares will be sold under airline's privatization process.
* Government will retain administrative control of the airline.
Senate Committee on Privatization Chairman Senator Mohsin Aziz.
Privatization Minister Daniyal Aziz at Senate Committee on Privatization meeting.
Senators representing various political parties of Pakistan at Senate Committee on Privatization meeting.
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Govt begins restructuring of PIA
Amin AhmedUpdated February 17, 2018
ISLAMABAD: The government on Friday decided to initiate the restructuring process of Pakistan International Airlines (PIA), which has already been converted into a public limited company known as PIACL.
Under the PIAC Conversion Act 2016, which was adopted unanimously by the parliament, the government was bound to complete the privatisation process by April 15 this year.
Prime Minister Shahid Khaqan Abbasi, who chaired the meeting of the Cabinet Committee on Privatisation (CCoP) gave go-ahead to the proposal submitted by the Privatisation Commission for initiating restructuring process of PIACL, with segregating the core and non-core functions of the organisation.
The Privatisation Commission has worked out a restructuring and implementation plan, outlining segregation of the core and non-core businesses of PIACL.
A corporate and financial restructuring of PIACL have also been prepared and now will be implemented by April this year as stipulated by the PIAC (Conversion) Act 2016.
Amin AhmedUpdated February 17, 2018
ISLAMABAD: The government on Friday decided to initiate the restructuring process of Pakistan International Airlines (PIA), which has already been converted into a public limited company known as PIACL.
Under the PIAC Conversion Act 2016, which was adopted unanimously by the parliament, the government was bound to complete the privatisation process by April 15 this year.
Prime Minister Shahid Khaqan Abbasi, who chaired the meeting of the Cabinet Committee on Privatisation (CCoP) gave go-ahead to the proposal submitted by the Privatisation Commission for initiating restructuring process of PIACL, with segregating the core and non-core functions of the organisation.
The Privatisation Commission has worked out a restructuring and implementation plan, outlining segregation of the core and non-core businesses of PIACL.
A corporate and financial restructuring of PIACL have also been prepared and now will be implemented by April this year as stipulated by the PIAC (Conversion) Act 2016.
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
PIA Not Being Privatized - Daniyal Aziz
Today, Privatization Minister Daniyal Aziz informed the Senate that PIA is not being privatized. Government needs support from the opposition to make the airline stand on its own feet, he said.
Abbas
Today, Privatization Minister Daniyal Aziz informed the Senate that PIA is not being privatized. Government needs support from the opposition to make the airline stand on its own feet, he said.
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Today, Provincial Assembly of Sindh passed a resolution against privatization of PIA.
Abbas
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Privatization Minister Daniyal Aziz informed a parliamentary committee that PIA is seeking sixty-five billion rupees to meet expenses till June this year.
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
Its time to cut PIA off from the Govt purse. In a country where 95% of the population will never see inside of an aeroplane, its a scandal that we keep on bailing out a failing airline year after year. If the Govt has extra 65 billion rupees sitting around, better spend that on education and healthcare facilities.
Its sink or swim time for PIA.
Its sink or swim time for PIA.
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Re: Plan to Privatize PIA Before General Elections to be Presented at Cabinet Meeting
MPs seek FAC report on PIA sell-off
March 01, 2018
ISLAMABAD - A parliamentary committee on Wednesday has sought the procedural steps and recommendations made by the Financial Advisory Consortium (FAC) for the Privatization of Pakistan International Airlines (PIA).
The National Assembly Standing Committee on Privatisation, which met under the chairmanship of Syed Imran Ahmad Shah, has also directed the Privatisation Commission to present the briefing regarding PIA's privatisation that was given in Cabinet meeting in next meeting.
The government would register a new company in Securities and Exchange Commission of Pakistan (SECP) that would manage the properties and hotels of the Pakistan International Airlines, which would be separated from the from PIA's air-transport business before its privatisation, Federal Minister for Privatization Daniyal Aziz said.
He said that the secretary aviation division and secretary ministry of finance would be members of the new company.
He said that government would separate the core and non-core business of the PIA by 15th April as per the PIAC Conversion Act 2016 adopted unanimously by the parliament.
He further said that only air transport business of PIA will be privatised. The non-core business of PIA will be put into another company along with the liabilities.
He said hotels and other properties will be separated and it would not be privatised.
He further informed that the government will retain fifty one percent shares of the national flag carrier while the management control will also remain with it.
Aziz said that government is privatising PIA to save national exchequer from massive loss. The PIA, which liabilities are estimated at over Rs325 billion, are seeking further Rs65 billion from the government before June this year, he added.
The committee was informed that the process of privatization was initiated under the Pakistan International Airlines Corporation (Conversion) Act, 2016. The said Act was unanimously passed by the Assembly.
All the steps regarding sales and purchase of the assets of PIA will be treated strictly in accordance with the parameters prescribed under the said Act. However the Privatization of PIA is quite distinguishable because of the fact that neither the control on the employees nor more than 49percent of the shares is going to be privatized.
In this way the federal government would remain the capital share holder even after the privatization.
The committee was informed that PIA would be privatised before June this year.
Source: The Nation
March 01, 2018
ISLAMABAD - A parliamentary committee on Wednesday has sought the procedural steps and recommendations made by the Financial Advisory Consortium (FAC) for the Privatization of Pakistan International Airlines (PIA).
The National Assembly Standing Committee on Privatisation, which met under the chairmanship of Syed Imran Ahmad Shah, has also directed the Privatisation Commission to present the briefing regarding PIA's privatisation that was given in Cabinet meeting in next meeting.
The government would register a new company in Securities and Exchange Commission of Pakistan (SECP) that would manage the properties and hotels of the Pakistan International Airlines, which would be separated from the from PIA's air-transport business before its privatisation, Federal Minister for Privatization Daniyal Aziz said.
He said that the secretary aviation division and secretary ministry of finance would be members of the new company.
He said that government would separate the core and non-core business of the PIA by 15th April as per the PIAC Conversion Act 2016 adopted unanimously by the parliament.
He further said that only air transport business of PIA will be privatised. The non-core business of PIA will be put into another company along with the liabilities.
He said hotels and other properties will be separated and it would not be privatised.
He further informed that the government will retain fifty one percent shares of the national flag carrier while the management control will also remain with it.
Aziz said that government is privatising PIA to save national exchequer from massive loss. The PIA, which liabilities are estimated at over Rs325 billion, are seeking further Rs65 billion from the government before June this year, he added.
The committee was informed that the process of privatization was initiated under the Pakistan International Airlines Corporation (Conversion) Act, 2016. The said Act was unanimously passed by the Assembly.
All the steps regarding sales and purchase of the assets of PIA will be treated strictly in accordance with the parameters prescribed under the said Act. However the Privatization of PIA is quite distinguishable because of the fact that neither the control on the employees nor more than 49percent of the shares is going to be privatized.
In this way the federal government would remain the capital share holder even after the privatization.
The committee was informed that PIA would be privatised before June this year.
Source: The Nation