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ISLAMABAD: Privatisation Commission Chairman Muhammad Zubair said here on Tuesday that the government was yet to make up its mind when to undertake the process of selling its shares in the Pakistan International Airlines.
A plan devised by the commission envisaged that after restructuring the PIA, the government would offer its 26pc shares with management control to strategic partners.
But Mr Zubair said at a press conference that the government was yet to decide how much shares would be sold. Any decision taken in the matter would be in the interest of the country and the economy, he added.
In reply to a question, he said the sale of government shares in the Allied Bank Limited (ABL) would be completed by Dec and in the case of Habib Bank by March next year. The commission has appointed lead managers and book runners for divesting the government’s residual shares in the ABL.
He said the privatisation process was proceeding successfully and better results would be achieved in the coming transactions. The divestment of 10 per cent of government shares in the OGDC will be reinitiated at an appropriate time.
Published in Dawn, November 19th, 2014
Amin Ahmed is an Islamabad-based correspondent for Dawn with nearly two decades of experience in the field. He reports on socio-economic development, agriculture, and privatisation, as well as parliamentary committees.
