Minister says all legal formalities completed for PIA’s privatization

ISLAMABAD: Caretaker Privatization Minister Fawad Hassan Fawad on Saturday said that all the legal formalities had been completed for the privatization of Pakistan International Airlines (PIA), ARY News reported. Talking to a private news channel, he outlined various stages of the process for the PIA’s privatization, saying that the Privatization Commission was diligently executing the task. Fawad said that in order to enure transparency in the PIA’s privatization, the representatives of Civil Aviation Authority (CAA), besides the ministries of education, law, and finance had also been taken on board. Fawad said the caretaker government was carrying out the privatization under the constitutional amendments enacted by the previous elected government. The decision to the effect was taken by the then government to prevent further deterioration of the economy, he added. The minister rejected rumors of negotiations about buying of the PIA by a foreign government. Such baseless allegations were being levelled by certain elements for their vested interests, he added.