ISLAMABAD: The new conditions of the companies interested in buying PIA have come out. The privatization of the national airline will now take place on October 31, and the token money will be taken from the bidders on May 28. In the Senate Standing Committee meeting, Chairman Talal Chaudhry said that the reputation of the institution is being damaged due to the change in the date for privatization.
The consultant said that the commission requested not to lay off the employees for 3 years and then for 2 years, on which the officials said that the bidders did not agree to keep them on the job even for 2 years while they were also not ready to give pension. According to the terms, they will immediately lay off the employees, some bidders want 65 percent and some 76 percent stake.
The government should withhold tax payments. On the other hand, the commission wants to sell up to 60 percent stake. Mohsin Aziz said the commission has done nothing except privatization of some banks in 12 years. The issues of employees, assets and bankruptcy should be looked into by a single ministry. The committee has sought details of the privatization of K Electric, while the Power Division says its privatization was not valid.
Officials said they would remove the necessary reservations. On which Mohsin Aziz said that the day the privatization is announced, the protest will start, remove the reservations first. The power division said that the capacity of the electrics was not as much as they were given. Senator Jam Saifullah said that K Electric did not invest as per the agreement. According to NNI, the National Assembly’s Standing Committee on Communications revealed that the 20 km long Thatta, Kenjhar Road broke up before it was completed.
