{"id":101498,"date":"2025-02-28T10:00:00","date_gmt":"2025-02-28T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=101498"},"modified":"2025-02-26T13:00:52","modified_gmt":"2025-02-26T08:00:52","slug":"pia-privatisation-moves-forward-as-hurdles-cleared","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pia-privatisation-moves-forward-as-hurdles-cleared.html","title":{"rendered":"PIA privatisation moves forward as key hurdles cleared"},"content":{"rendered":"\n<p>Islamabad: The government will invite expressions of interest (EoIs) for the privatisation of Pakistan International Airlines (PIA) in early March, aiming to transfer the airline to private hands before the fiscal year ends, an official from the Privatisation Commission confirmed on Tuesday.<\/p>\n\n\n\n<p>The privatisation process, previously stalled due to investor concerns, has gained momentum after the International Monetary Fund (IMF) approved key financial adjustments. These include a waiver on the 18% general sales tax for new aircraft purchases and permission for the government to absorb PIA\u2019s Rs45 billion negative equity, making the airline a more attractive investment opportunity.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/deadline-set-for-pia-privatisation.html\" target=\"_blank\" rel=\"noreferrer noopener\">Deadline set for PIA privatisation along with power companies<\/a><\/p>\n\n\n\n<p>During a meeting of the National Assembly\u2019s Standing Committee on Privatisation, chaired by MNA Farooq Sattar, Privatisation Secretary Usman Bajwa updated lawmakers on the progress. He revealed that $4.3 million of the $6.8 million advisory fee to Ernst &amp; Young had already been paid, with the remaining amount to be settled upon completion of the privatisation process.<\/p>\n\n\n\n<p>The committee was also briefed on PIA\u2019s extensive real estate holdings, which include 26 properties under PIA Holdings and five under the airline itself. Among these, a prime plot in Islamabad\u2019s Blue Area, valued between Rs10-12 billion, remains under review. Additionally, PIA Holdings owns seven overseas properties, including the Scribe Hotel in Paris and the Roosevelt Hotel in New York. The Roosevelt Hotel\u2019s lease agreement is set to expire in May, with a three-month notice period required for vacating the property.<\/p>\n\n\n\n<p>Meanwhile, discussions also covered the privatisation of Pakistan Engineering Company (PECO), which was added to the list last August. The committee directed the privatisation secretary to consult with relevant ministries and submit a report within 40 days.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/committee-to-oversee-private-commercial-projects.html\" target=\"_blank\" rel=\"noreferrer noopener\">Joint committee to oversee private, commercial projects in Islamabad<\/a><\/p>\n\n\n\n<p>With key financial and legal obstacles addressed, the government is now pushing ahead to finalise the PIA privatisation process, hoping to attract serious investors and revive the struggling national carrier.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government will invite expressions of interest (EoIs) for the privatisation of Pakistan International Airlines (PIA) in early March, aiming to transfer the airline to private hands before the fiscal year ends, an official from the Privatisation Commission confirmed on Tuesday. The privatisation process, previously stalled due to investor concerns, has gained momentum after the International Monetary Fund (IMF) approved key financial adjustments. These include a waiver on the 18% general sales tax for new aircraft purchases and permission for the government to absorb PIA\u2019s Rs45 billion negative equity, making the airline a more attractive investment opportunity. Read: Deadline set for PIA privatisation along with power companies During a meeting of the National Assembly\u2019s Standing Committee on Privatisation, chaired by MNA Farooq Sattar, Privatisation Secretary Usman Bajwa updated lawmakers on the progress. He revealed that $4.3 million of the $6.8 million advisory fee to Ernst &amp; Young had already been paid, with the remaining amount to be settled upon completion of the privatisation process. The committee was also briefed on PIA\u2019s extensive real estate holdings, which include 26 properties under PIA Holdings and five under the airline itself. Among these, a prime plot in Islamabad\u2019s Blue Area, valued between&hellip;<\/p>\n","protected":false},"author":18,"featured_media":76107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[62747,60626,62268,62748,62746,34475,59909,62750,59285,62749,22570,33449,62751],"persona":[],"class_list":{"0":"post-101498","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-aviation-sector","9":"tag-fiscal-policy","10":"tag-government-policy","11":"tag-imf-approval","12":"tag-investor-interest","13":"tag-pakistan-economy","14":"tag-pakistan-international-airlines","15":"tag-peco-privatisation","16":"tag-pia-privatisation","17":"tag-pia-real-estate","18":"tag-privatisation-commission","19":"tag-roosevelt-hotel","20":"tag-scribe-hotel","21":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PIA privatisation moves forward as hurdles cleared - Zameen News<\/title>\n<meta name=\"description\" content=\"The committee was also briefed on PIA\u2019s extensive real estate holdings, which include 26 properties under PIA Holdings and five under...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pia-privatisation-moves-forward-as-hurdles-cleared.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIA privatisation moves forward as hurdles cleared - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The committee was also briefed on PIA\u2019s extensive real estate holdings, which include 26 properties under PIA Holdings and five under...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pia-privatisation-moves-forward-as-hurdles-cleared.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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