Europe flights to revive PIA sell-off prospects: Aleem

ISLAMABAD: Federal Minister for Privatisation, Board of Investment and Communications, Abdul Aleem Khan Saturday said the start of PIA flights to Europe is a very welcome step as now people are confident that they will soon be able to travel by Pakistan International Airlines for Europe. He said this flight operation of PIA will also prove to be a milestone for the privatisation of this organisation and insha'Allah after Europe, PIA may get the good news of being operational for flights to the United Kingdom and the United States of America as well which will further improve the credibility of this organisation and it will be able to be “marketed” in a good way.According to a statement, Aleem Khan told that various issues hindering in the privatisation process of this institution have been resolved and now remaining work and unresolved steps will be materialised quickly. He informed that the IMF has also agreed upon two important issues for the buyer of PIA and assured their consent after which the 18 per cent sales tax on the purchase of new aircrafts will be abolished while the losses of PIA will also be transferred to Holding Company. Aleem Khan further said that now according to the new conditions the liabilities and old dues of Pakistan International Airlines will be eliminated and this organisation will be privatised without any liabilities while after these reforms, the purchase of PIA will also become more attractive and lucrative for investors. The federal minister said that matters for the privatisation of PIA are being dealt with expeditiously and good news will be surfaced soon about handing over the institution of PIA to the private sector.Copyright Business Recorder, 2024

ISLAMABAD: Federal Minister for Privatisation, Board of Investment and Communications, Abdul Aleem Khan Saturday said the start of PIA flights to Europe is a very welcome step as now people are confident that they will soon be able to travel by Pakistan International Airlines for Europe. He said this flight operation of PIA will also prove to be a milestone for the privatisation of this organisation and insha'Allah after Europe, PIA may get the good news of being operational for flights to the United Kingdom and the United States of America as well which will further improve the credibility of this organisation and it will be able to be “marketed” in a good way. According to a statement, Aleem Khan told that various issues hindering in the privatisation process of this institution have been resolved and now remaining work and unresolved steps will be materialised quickly.

He informed that the IMF has also agreed upon two important issues for the buyer of PIA and assured their consent after which the 18 per cent sales tax on the purchase of new aircrafts will be abolished while the losses of PIA will also be transferred to Holding Company. Aleem Khan further said that now according to the new conditions the liabilities and old dues of Pakistan International Airlines will be eliminated and this organisation will be privatised without any liabilities while after these reforms, the purchase of PIA will also become more attractive and lucrative for investors. The federal minister said that matters for the privatisation of PIA are being dealt with expeditiously and good news will be surfaced soon about handing over the institution of PIA to the private sector.

Copyright Business Recorder, 2024.