• Friday, August 14, 2020

Nawaz okays privatisation of PIA’s 26pc shares

Discussion in 'Pakistan Economy' started by HAIDER, Sep 13, 2013.

  1. HAIDER

    HAIDER ELITE MEMBER

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    ISLAMABAD: Prime Minister Nawaz Sharif Thursday gave a go ahead for privatising 26 per cent shares of the national flag carrier, Pakistan International Airlines (PIA) in “an open and transparent manner to make it competitive and service-oriented.”

    He also directed the Ministry of Privatisation and Civil Aviation Division to initiate the process of privatisation, while ensuring complete transparency, adherence of all relevant codal formalities and guidelines of the superior courts.

    This would not only help provide people quality service, but would also improve the overall image of the national flag carrier locally and internationally, said an official press release.

    The prime minister gave these directions while chairing a meeting on PIA at the Prime Minister's Office in Islamabad. Sharif said the government was fully committed to reform and restructure all the ailing state enterprises.

    He also directed the PIA management to focus on their operational efficiency, cut down their wasteful expenses and promote qualified professionals to compete modern day environment in the air transport industry.

    Earlier, while reviewing performance of the PIA, PM Sharif expressed his deep concerns over mismanagement in its affairs and was saddened to observe that the airline had not come up to the expectations of the people.

    The premier was also briefed about the problems and issues confronting the PIA, such as its declining service standard, lack of reliability and punctuality, pilferages, lack of quality manpower, training and job rotation, ageing fleet, over-staffing and high loans resulting in heavy financial cost.

    He directed the PIA management to cut down its losses in the short term, in order to make it a viable entity for privatisation. The prime minister also directed that all the policy decisions to revitalise the public sector organisation would be made by its board of governors.

    Moreover, the premier directed to ensure full transparency in the decision-making process to protect public interest.

    The meeting was attended by Finance Minister Ishaq Dar, Information Minister Parvez Rashid, Petroleum Minister Shahid Khaqan Abbasi and other senior officials.
    DAWN.COM
     
  2. Foxtrot Alpha

    Foxtrot Alpha STAFF

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    It will be important to see who buy these 25pc shares - not that I fear that these might end up in the hands of PM's family, its just that i fear they might not pay for what they are buying.
    Interesting it, they will have to define how are they going to tackle gross negligence, corruption & mismanagement at PIA, because that will be the real tiebreaker.
     
  3. Leader

    Leader ELITE MEMBER

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    behold !!

    X MD PIA Shahzad Ahsan Sheikh tells me PIA is being sold to personal friend of PMNS Nasir Tulu who lives in Dubai so 26pc shares 2 go 2 him


    @ rauf klasra
     
  4. Black Eagle 90

    Black Eagle 90 BANNED

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    better for the GoP to close down it and take 11% stake in Air Blue and Shaheen. Also can you give us the official link....
     
  5. Jazzbot

    Jazzbot ELITE MEMBER

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    PIA is suffering badly from Govt negligence and sheer incompetence and corruption of PIA high officials, and yet instead of fixing these issues, Govt is resorting to privatize PIA.
     
  6. Leader

    Leader ELITE MEMBER

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    CEO AIR-BLUE (Shahid Khaqqan Abbasi) was sitting in the meeting in which decision is made to privatize PIA. #conflictofinterest

    [​IMG]



    #SHAME !!
     
  7. Zaki

    Zaki SENIOR MODERATOR

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    As far as I remember, PTI has always been strong advocate of privatisation of all the top-defaulters in Pakistan in transparent manner.

    ----------

    I believe it's a very good decision, better late than never. We are literally injecting around 5 billion dollars in about 20 Government-owned companies in losses each year. We need to privatise them all or bring them back to profitable companies we are to continue holding the burden of dead horses.

    Only thing I am advocating to improve is Pakistan Railways... Steel Mills and all the Electricity power supply companies should also be sold.
     
  8. Jazzbot

    Jazzbot ELITE MEMBER

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    Yes but the way things are unfolding we can guess what's the direction. These shares will either end up in hands of sharif family or someone close to them. Suspicious things are already surfacing around regarding CEO of Air Blue. We want Privatization but only in transparent manner as you've also said.

    Edit: Oh, just check @Leader's post just above your post..
     
    Last edited by a moderator: Nov 5, 2013
  9. Zaki

    Zaki SENIOR MODERATOR

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    So far nothing's need unfolded... It's just the policy of privatisation is becoming more clear.. and they claim it will be done in transparent manner. Most PTI'ans always crying for no reason and criticising everything with blind eyes... and it irritates me very often (due to being the voter of the same party).
     
    Last edited by a moderator: Nov 5, 2013
  10. Black Eagle 90

    Black Eagle 90 BANNED

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    The process should be like handing over the PEC(precison engineering complex) and over haulin facility to PAC and then selling about 7% share in Pakistan Stock Exchanges and then sell about 43% of the shares to any good bidder.
     
  11. HAIDER

    HAIDER ELITE MEMBER

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    Again its MCB Mansha group...Nawaz buddy,,,rumour Mansha do investment on Nawaz behalf ...
     
  12. Peaceful Civilian

    Peaceful Civilian ELITE MEMBER

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    This happened due to political appointments and incompetent team....
    26 per cent shares is not a solution... Either you go with full privatization or you have option of repair things not done in past.. . 26 % share is bullshit.. In this case, still company will ask government to give compensation for employees to remove them or to introduce Golden Handshake scheme...
    Still government has to pay from his own pocket....
    This is Bullshit plan