ISLAMABAD: Government and opposition have agreed on the Bill regarding the privatisation of the Pakistan International Airlines (PIA) in a meeting of the joint-parliamentary committee held on Wednesday.
The meeting was presided by Federal Law Minister Zahid Hamid. The Privatisation Bill was given green-signal after mutual consensus was developed between the government and the opposition members.
It was decided in the meeting that the government will sell as much as 49% of the shares of PIA, the remaining 51% shares will remain with the government. Likewise, the administrational control of the institution will also not be handed over to the shareholders.
The management of PIA will remain with the Board of Governors however representation within the Board of Governors will be given in accordance with the percentage of shares. It was decided in the committee that by converting PIA into a limited company, no impact will take place on the salaries and pensions of the PIA employees and that the assets of the institution will not be sold as well.
The main purpose of converting PIA into a limited company is to attract strategic partners. The committee will present its report before the Parliament on Thursday after the government and opposition agreed upon the Bill, whereas voting upon the Bill will be done on April 11.
However, the opposition members demanded that the cases registered against the protesting PIA employees be taken back. Federal Finance Minster Ishaq Dar responded that to take the cases against the protesting workers back is not within the jurisdiction of the parliamentary committee however the government is willing to discuss the matter.