Business

PIA Privatization To Be Completed As Per Laws: Daniyal

Minister for Privatization Daniyal Aziz says privatization process of Pakistan International Airlines (PIA) will be completed according to the law and no asset or hotel of the PIA will be sold out.
Addressing a news conference in Islamabad on Monday, he said PIA Law is in place since April 2016, and we have to implement it accordingly.
The Minister said the rights of all the employees of PIA will be safeguarded. He said professionalism and transparency will be ensured in the process.“The privatization is not new or wondering thing as it will help to improve economy and the financial conditions of the employees as well as government can’t bear further burden to pay salaries of the employees by its pocket,” he said adding that continue deterioration in PIA and Pakistan Steel Mills affairs were effecting country’s economy and it was essential their privatization to run the economic wheel of the economy.
A day ago, he mentioned that federal government will try to privatize the Pakistan International Airlines (PIA) before general elections due this year, privatization minister Daniyal Aziz said.
Hemorrhaging money and losing market share to Gulf-based rivals such as Etihad and Emirates, PIA has been hit by management turmoil in recent years and a 2016 plane crash that led to 47 deaths.