ISLAMABAD, July 8: President General Pervez Musharraf on Monday directed the Privatization Commission to evaluate the PIA assets abroad for its dis-investment.

He was chairing a meeting of PIA Investment Limited to decide about the privatization of PIA assets abroad.

It was decided in the meeting that the final decision to privatize the assets of PIAIL would only be made after the evaluation by Privatization Commission.

Later, the Managing Director of PIA Chaudhary Ahmad Saeed told APP that the President has asked the Privatization Commission to get evaluation of the assets of PIA investment limited.

He said if adequate returns are ensured, these assets will be privatized. “All legal matters regarding the PIA hotels have been resolved and we also got rid of all encumbrances.”

To a question, he expressed confidence that the national carrier would achieve the target of profit of two billion rupees plus, by the end of the current calendar year. He said in the first six months, PIA earned profit of Rs550 million.

Giving details, he said in the first three months PIA earned a profit of Rs1 billion but during the second quarter it suffered losses because of low traffic.

To another question, he said PIA has purchased six Boeing aircraft while a team has gone overseas to negotiate the purchase of more Boeing aircraft as part of the plan to replace the fleet.

Meanwhile, President General Pervez Musharraf, chairing a high level meeting, directed that National Aviation Policy should be reviewed so as to provide level-playing field to national carrier and private airlines.

The President said besides national carrier, the private and foreign airlines should also be provided a comfortable operating environment keeping the international aviation practices in view.

The President observed that PIA was happily on the road to recovery but still has to do a great deal to regain its clientele, reputation and profitability.

He observed that PIA being national carrier is an asset, and the government would do all that is possible for its rehabilitation without compromising the government’s policy of encouraging the private sector.

The Civil Aviation Division briefed the President about National Aviation Policy announced in 2000.

Director General, Civil Aviation, Air Marshal (Retd) Aliuddin, later told APP that no major changes in the policy were being made.

“Some minor amendments to remove imbalances and bring improvement will be made after consulting all concerned,” he said.

He said the aviation policy will help not only Pakistan national carrier and domestic airline but also the aviation industry.

The DG aviation said the President was informed that National Aviation Policy 2000 is a complete document but there is a capacity imbalance.—APP