[ad_1] ISLAMABAD: In a significant move ahead of the privatisation of Pakistan International Airlines (PIA), the airline’s management has announced the sale of additional spare parts for various categories of aircraft, valued at millions of rupees. The management, focusing on streamlining resources, has decided to put spare parts of Boeing …
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[ad_1] ISLAMABAD: The Pakistan International Airline Holding Company board on Wednesday approved the restructuring of the airline’s Rs268 billion commercial debt, incorporating it into the public debt. The term sheet was finalised by the Ministry of Finance with commercial banks. The government’s decision to merge the airline’s debt into public …
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[ad_1] Minister for Aviation Khawaja Muhammad Asif has expressed the resolve to develop the aviation industry of the country for increasing its contribution in national economic growth. He was chairing a meeting in Islamabad today to discuss the National Aviation Policy 2023, challenges faced by Pakistan Aviation industry and the …
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[ad_1] ISLAMABAD: The Auditor General for Pakistan has recommended holding individuals accountable for disbursing Rs15 billion to Pakistan International Airlines in the last fiscal year without first obtaining a business plan or government approvals for the fund release. Federal auditors have raised an audit objection against the Ministry of Finance …
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[ad_1] The International Monetary Fund (IMF) will hold talks with Pakistan’s newly elected government for disbursement of the final loan tranche under SBA, according to well-placed media sources. Under SBA, Pakistan will receive a final loan tranche of $1.1 billion. The targets set by the IMF have already been met …
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[ad_1] The International Monetary Fund (IMF) has ‘approved’ a debt rescheduling plan for Pakistan International Airlines (PIA) privatisation. According to the details, the negotiations between the officials of the Ministry of Privatization, the Ministry of Finance and the IMF were successful. Officials stated that the final approval for PIA’s debt …
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[ad_1] ISLAMABAD: The government and commercial banks have agreed on a Rs268 billion debt restructuring plan for Pakistan International Airlines (PIA). This move, while shifting the burden of PIA’s inefficiency onto taxpayers, removes an irritant in its privatisation. The Ministry of Finance, abandoning its previous stance of not incorporating PIA …
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[ad_1] ISLAMABAD: President Dr Arif Alvi on Thursday issued an ordinance to end the role of high courts in privatisation matters aimed at avoiding “unnecessary delays” in selling state assets and expeditiously resolving disputes. The president issued the Privatisation Commission (Amendment) Ordinance 2023, according to a statement released by the …
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[ad_1] ISLAMABAD: The government and commercial banks have failed to break an impasse over the restructuring of Pakistan International Airlines’ (PIA) Rs260 billion debt, compelling authorities to grant yet another extension to a committee attempting to find a solution. Sources from the Privatisation Ministry stated that Finance Minister Dr Shamshad …
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[ad_1] ISLAMABAD: On Friday, Pakistan approved the hiring of an American real estate management firm for the privatisation of its prized real estate asset, the Roosevelt Hotel, located in the heart of New York. The badly managed property is currently owned by Pakistan International Airlines (PIA). The Privatisation Commission’s board …
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