The Cabinet Committee on Privatization (CCoP) on Tuesday approved the Privatization Commission’s recommendations on the divestment of a 75 percent stake in Pakistan International Airlines Corporation Limited (PIACL), endorsing the proposed reserve price and referring the matter to the Federal Cabinet for final clearance.
The meeting was chaired by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, who underscored the need to follow all government policies and laws while ensuring transparency and a level playing field for all participants. He also stressed the adoption of international best practices in the privatisation process.
The committee reviewed the entire divestment process undertaken by the Privatization Commission and its board. After detailed deliberations, it endorsed the board’s recommendations for onward submission to the Federal Cabinet.
During the session, officials from the Privatization Commission and the Ministry of Privatization presented a detailed briefing on Pakistan’s overall privatisation framework and ongoing initiatives.
The meeting was attended by the Ministers for Finance, Power, and Commerce; Advisors to the Prime Minister on Privatization, Industry, and Production; Special Assistants to the Prime Minister Tariq Bajwa and Bilal Kiyani; and Federal Secretaries of the Cabinet Division, Privatization, Planning, Commerce, Defence, Law, and Power, along with senior officials of the Privatization Commission.
