ISLAMABAD, May 29: The Privatization Commission will hold on Monday the first roadshow in Lahore as a part of the planned series of such market presentations to induce prospective investors to buy 10 per cent shares of Pakistan International Airlines Corporation (PIAC) , an official source said.

Islamabad and Karachi will be the subsequent venues of such roadshows scheduled for June 1 and June 4, respectively. The PC would then be open to subscription of the Secondary Public Offering of GoP shares in PIAC from June 7 to 9.

Over the financial years from 1999 to 2003, the source pointed out, the PIAC had demonstrated remarkable performance, registering significant growth in sales, profitability and cash flows. Despite the global recession in the aviation industry, the national flag carrier had managed to stand out as one of the few profitable airlines in the world, he observed.

The 115m (10pc) shares of the PIAC will be available at the rate of Rs20 per share. Applications for 500 shares of multiples thereof can be submitted through the authorized banks.

The minimum amount of investment, according to further details, would be Rs10,000 for buying 500 shares. Preference will be given to small investors as per the government's policy of benefiting the common man.

The sale of PIAC shares would be followed by the IPOs of Pakistan Petroleum Limited and Kot Addu Power Company planned to take place in June and July, respectively.