Islamabad, Oct 31: PIA Privatization Bid Scheduled for Today in Islamabad Amidst Economic Challenges
A private hotel in the capital has completed the preparations for the bidding procedure.
According to reports from the Privatization Commission,
Only the Blue World City consortium has made an advance payment out of the six possible bidders.
According to aviation sources, the opening and PIA Privatization Bids submitting for Pakistan International Airline’s purchase are scheduled for the same day.
The privatization process would closely follow the rules and regulations, guaranteeing complete adherence to the law.
New requirements from possible bidders pertaining to the airline’s personnel have surfaced as the government moves forward with the PIA privatization.
Companies interested in purchasing PIA are asking for major changes,
According to information disclosed during a Senate Privatization Committee hearing presided over by Senator Talal Chaudhry.
The immediate termination of all employees and the purchase of 76% of PIA’s stock,
With the government handling tax payments, are two of the main objectives of the new demands.
The goal of the pia Privatization Commission’s negotiations was to secure provisions that would shield workers from layoffs for a minimum of two to three years.
The privatization bidding have declined to make this commitment,
stating that they are reluctant to keep personnel or pay pensions.
The lack of a clear plan to protect employees has prompted criticism of the privatization process, which is now scheduled for October 31.
