Achi news desk-
ISLAMABAD: The Board of Directors of Pakistan International Airlines (PIA) has approved the government’s plan to privatize the company.
According to sources, a special meeting of the board of directors of the organization was held in Islamabad on the issue of privatization of PIA. The financial advisor for privatization was briefed on the report prepared by Ernst Young Company. In the meeting, the board of directors approved the government’s plan to privatize PIA.
In the meeting, the proposals regarding the future of PIA employees were also considered, it was also suggested to retire those employees who have completed 4 years of service.
A proposal for voluntary retirement before privatization was also considered.
It may be noted that the PIA Board has been inactive since October 2023, the Federal Cabinet approved the new PIA Board of Directors a few days ago.
Under the SECP rules, the approval of the board is mandatory for important decisions of the PIA.
