PIA’s 51pc shares, management to remain with state - Pakistan

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height: 1px; overflow:hidden; position: absolute; white-space: nowrap; width: 1px;">Facebook Count</span><span data-fb-count-url="https%3A%2F%2Fwww.dawn.com%2Fnews%2F1390652"><span class="count"></span></span></a> </div> <div class="social social--icon social--black social--flat social--twitter float-left mr-1 my-2 "> <a onclick="return !window.open(this.href, 'Tweet', 'width=640, height=300')" href="https://web.archive.org/web/20180224154715/https://twitter.com/share?text=PIA%E2%80%99s%2051pc%20shares%2C%20management%20to%20remain%20with%20state&url=https%3A%2F%2Fwww.dawn.com%2Fnews%2F1390652&counturl=https%3A%2F%2Fwww.dawn.com%2Fnews%2F1390652" target="_blank"><span style="clip: rect(1px, 1px, 1px, 1px); height: 1px; overflow:hidden; position: absolute; white-space: nowrap; width: 1px;">Twitter Share</span></a> </div> <div class="social hidden-xs-down social--print social--icon social--black social--flat float-left mr-1 my-2"> <a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/print/1390652">   </a> </div> <div class="social social--email social--icon social--black social--flat float-left mr-1 my-2"> <a onclick="$('.mailer [name^=id]').val(1390652);$('.mailer').modal().open()" href="javascript:void(0)"></a> </div> <div class="mailer themodal themodal--centered" style="width:400px;height:260px;background:#fff"> <h3>Email</h3> <br/> <form accept-charset="utf-8" class="form-vertical emailer" onsubmit="javascript:$.post(this.action, $(this).serialize());$(this).html('Mail sent, thank you!');return false;" method="POST" action="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/email/1390652"><input class="form-control" type="hidden" name="jscheck" value=""><div class="form-group"><label for="sender" class="control-label">Your Name</label><input class="form-control" id="sender-2" type="text" name="sender"></div><div class="form-group"><label for="to" class="control-label">Recipient Email</label><input class="form-control" id="to-2" type="text" name="to"></div><input class="form-control" type="hidden" name="id" value=""><input class="btn mt-2" type="submit" value="Email"><input class="form-control" type="hidden" name="_token" value=""></form> </div> <div class="social social--comment social--icon social--black social--flat social--label text--700 float-left mr-1 my-2"> <a href="#comments">7</a> </div></div> </div>   <div class="template__main clearfix modifier--open px-1 modifier--widedefault modifier--quote-center-narrow">   <div class="story__content pt-1 mt-1"><div style="display: none"></div><p class="">ISLAMABAD: The government on Tuesday assured the parliament that the management of Pakistan International Airlines (PIA) will remain with the government, while 49 per cent shares will be sold by April 15, as stipulated under the PIAC Conversion Act of 2016 approved by the parliament. </p><p class="">This was stated by Privatisation Minister Daniyal Aziz both, to Senate Standing Committee on Privatisation and National Assembly, in response to a calling attention notice that had been moved by the PPP members. </p><p class="">Briefing the members, the minister said the government intends to separate transport business from the airline’s assets and the entity would be owned by the state. </p><p class="">In this transaction, the majority shares and management control will remain with the state, he said. </p><p class="">The transport model has been approved by the recent meeting of the Cabinet Committee on Privatisation, separating air transport business from non-air transport business. </p><p class="">Various assets and liabilities, that are not part of air transport business, will be shifted to a new company which is yet to be named. </p><p class="">Referring to the management and audit accounts, Daniyal Aziz said that by separating the transport business, the investment rate of PIA will be restored making the national flag carrier a positive equity company. </p><p class="">The privatisation minister said that PIA’s privatisation is not possible soon. The process is going on for the last 30 months. Financial advisers have prepared reports on various assets and liabilities that are not part of the air transport business. </p><p class="">The standing committee headed by Senator Mohsin Aziz of PTI expressed its annoyance over the absence of Prime Minister’s Adviser on Aviation, Sardar Mehtab Khan Abbasi from the meeting. </p><p class="">Responding on the issue, Mr Daniyal Aziz said that he took the reign of privatisation in September while Sardar Mehtab Abbasi also took charge as advisor on aviation. </p><p class="">At one stage, after a heated debate, Saleem Mandviwalla staged a walk-out from the meeting, but joined later. </p><p class="">Sherry Rehman put numerous questions on the airline’s privatisation and the existing aviation policy. She questioned the minister as to who is running PIA’s affairs these days while criticising the role of the former adviser, Shujaat Azeem. </p><p class="">She said that PIA has lost a great deal of business due to the aviation policy of the government, with closing down of international routes, which under the open sky policy went to other airlines. </p><p class="">Senator Rehman asked as to why PIA is going down while air traffic has gone up by 40pc. </p><p class="">She added that lots of overseas Pakistanis have expressed deep concern over the reported selling of PIA, and want the national flag carrier to continue its operations. </p><p class="">The issue of PIA’s privatisation also echoed in the National Assembly on Tuesday, where Danyal Aziz stated that the government was bound to complete the privatisation process under the PIAC Conversion Act 2016. </p><p class="">Replying to a ‘Calling Attention Notice’ moved by Syed Naveed Qamar and others, Mr Aziz explained that the government will retain 51pc shares of PIA’s management control.</p><p class=""><em>Published in Dawn, February 21st, 2018</em></p> </div> </div>   <div class="template__footer clearfix modifier--open px-1"> <div class="row no-gutters"> <div class="col-12 col-sm-10 col-sm-offset-1"> <div class="row no-gutters"> <div class="col-12 col-sm-11"> <div class="ml-0 ml-sm-6 px-0 px-sm-2"> <hr> <div class="row no-gutters"> <div class="col-12 col-sm-6"> </div> <div class="col-12 col-sm-6"> <div class="mt-2 mt-sm-0 clearfix social-container">  <div class="social social--icon social--black social--flat social--facebook social--count float-left mr-1 "> <a onclick="return !window.open(this.href, 'Share on Facebook', 'width=640, height=536')" href="https://web.archive.org/web/20180224154715/https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.dawn.com%2Fnews%2F1390652&display=popup&ref=plugin" target="_blank"><span style="clip: rect(1px, 1px, 1px, 1px); height: 1px; overflow:hidden; position: absolute; 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class="story__link">ٹرمپ کا پاکستان پر وار، دوست بھی نا بنے غم خوار</a></h2> </article>  </div> </div><div class="clear--both"> </div></div> </div> </section>  </div> <div class="border--top border--thick border--black"> <section id="comments" class="comments px-0 col-sm-10 col-12"> <h1 class="comments__label text--700">Comments (7) </h1> <form accept-charset="utf-8" class="form-vertical comments-form jsform mb-4" id="comments-form" method="POST" action="https://web.archive.org/web/20180224154715/https://www.dawn.com/comments"><input class="form-control jscheck" type="hidden" name="jscheck" value=""><input class="form-control" type="hidden" name="story_id" value="1390652"> <div class="info"></div> <div class="row no-gutters"> <div class="col-6"> <div class="pt-2"> <input class="form-control text-input col-12" placeholder="Name" required id="name" type="text" name="name"> </div> </div> <div class="col-6"> <div class="pt-2"> <input class="form-control text-input col-12" 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type="submit" value="Submit"> </div> </div> <input class="form-control" type="hidden" name="_token" value=""></form> <div class="button-container border--top"> <button type="button" class="button js-comments-sort-votes float-right">Popular</button> <button type="button" class="button js-comments-sort-date--new float-right">Newest</button> <button type="button" disabled="disabled" class="button js-comments-sort-date float-right">Oldest</button> </div> <div class="comment pb-4 mb-4 border--bottom" id="5735092" data-id="1"> <div class="row"> <div class="col-11"> <div class="comment__author float-left">Hamid shafiq</div> <div class="timeago comment__date" title="2018-02-21T08:01:29+05:00"><span class="timestamp--time timeago" title="2018-02-21T08:01:29+05:00">Feb 21, 2018 08:01am</span></div> <div class="comment__body mt-2 size-four clearfix"><p>No politics just sale this white elephant and save money of tax payers</p> </div> <div class=""> <input type="button" value="Reply" data-name="Hamid shafiq" class="button button--short mr-2 comment__reply"/> <div class="button button--social" title="Recommend this comment">  <span class="button__label votejs__cast" data-vote-key="1390652/up-5735092">Recommend</span> <span class="button__count votejs__count" data-vote-key="1390652/up-5735092">0</span>  </div> </div> </div> </div> </div>  <div class="comment pb-4 mb-4 border--bottom" id="5735430" data-id="2"> <div class="row"> <div class="col-11"> <div class="comment__author float-left">Sameer</div> <div class="timeago comment__date" title="2018-02-21T10:09:03+05:00"><span class="timestamp--time timeago" title="2018-02-21T10:09:03+05:00">Feb 21, 2018 10:09am</span></div> <div class="comment__body mt-2 size-four clearfix"><p>Do us a favor, sell off 49% of Government as well.</p> </div> <div class=""> <input type="button" value="Reply" data-name="Sameer" class="button button--short mr-2 comment__reply"/> <div class="button button--social" title="Recommend this comment">  <span class="button__label votejs__cast" data-vote-key="1390652/up-5735430">Recommend</span> <span class="button__count votejs__count" data-vote-key="1390652/up-5735430">0</span>  </div> </div> </div> </div> </div>  <div class="comment pb-4 mb-4 border--bottom" id="5735942" data-id="3"> <div class="row"> <div class="col-11"> <div class="comment__author float-left">Saif Zulfiqar</div> <div class="timeago comment__date" title="2018-02-21T12:52:24+05:00"><span class="timestamp--time timeago" title="2018-02-21T12:52:24+05:00">Feb 21, 2018 12:52pm</span></div> <div class="comment__body mt-2 size-four clearfix"><p>51% share of PIA to remain with Nawaz Shariff's government to make it easy to loot.,</p> </div> <div class=""> <input type="button" value="Reply" data-name="Saif Zulfiqar" class="button button--short mr-2 comment__reply"/> <div class="button button--social" title="Recommend this comment">  <span class="button__label votejs__cast" data-vote-key="1390652/up-5735942">Recommend</span> <span class="button__count votejs__count" data-vote-key="1390652/up-5735942">0</span>  </div> </div> </div> </div> </div>  <div class="comment pb-4 mb-4 border--bottom" id="5736005" data-id="4"> <div class="row"> <div class="col-11"> <div class="comment__author float-left">AZAIN</div> <div class="timeago comment__date" title="2018-02-21T13:19:21+05:00"><span class="timestamp--time timeago" title="2018-02-21T13:19:21+05:00">Feb 21, 2018 01:19pm</span></div> <div class="comment__body mt-2 size-four clearfix"><p>Change the management: all is well</p> </div> <div class=""> <input type="button" value="Reply" data-name="AZAIN" class="button button--short mr-2 comment__reply"/> <div class="button button--social" title="Recommend this comment">  <span class="button__label votejs__cast" data-vote-key="1390652/up-5736005">Recommend</span> <span class="button__count votejs__count" data-vote-key="1390652/up-5736005">0</span>  </div> </div> </div> </div> </div>  <div class="comment pb-4 mb-4 border--bottom" id="5736356" data-id="5"> <div class="row"> <div class="col-11"> <div class="comment__author float-left">K.T.H.</div> <div class="timeago comment__date" title="2018-02-21T15:43:27+05:00"><span class="timestamp--time timeago" title="2018-02-21T15:43:27+05:00">Feb 21, 2018 03:43pm</span></div> <div class="comment__body mt-2 size-four clearfix"><p>If the terms have not been decided with some pre-qualified (pre-determined) buyer, then this will be a World Record as no airline has been sold in less than two months!!! Miracles do happen (or they are made to happen!!).</p> </div> <div class=""> <input type="button" value="Reply" data-name="K.T.H." class="button button--short mr-2 comment__reply"/> <div class="button button--social" title="Recommend this comment">  <span class="button__label votejs__cast" data-vote-key="1390652/up-5736356">Recommend</span> <span class="button__count votejs__count" data-vote-key="1390652/up-5736356">0</span>  </div> </div> </div> </div> </div>  <div class="comment pb-4 mb-4 border--bottom" id="5736929" data-id="6"> <div class="row"> <div class="col-11"> <div class="comment__author float-left">SHAHID SATTAR </div> <div class="timeago comment__date" title="2018-02-21T18:58:23+05:00"><span class="timestamp--time timeago" title="2018-02-21T18:58:23+05:00">Feb 21, 2018 06:58pm</span></div> <div class="comment__body mt-2 size-four clearfix"><p>How will the purchasers be able to protect their investment in the firm? With the control remaining with the government, the dictates to be followed will be those of the majority shareholder, which in this case will be the government. Who wants to purchase and what privately agreed terms are you keeping under cover for the time being? There is surely more to it then meets the eye.</p> </div> <div class=""> <input type="button" value="Reply" data-name="SHAHID SATTAR " class="button button--short mr-2 comment__reply"/> <div class="button button--social" title="Recommend this comment">  <span class="button__label votejs__cast" data-vote-key="1390652/up-5736929">Recommend</span> <span class="button__count votejs__count" data-vote-key="1390652/up-5736929">0</span>  </div> </div> </div> </div> </div>  <div class="comment pb-4 mb-4 border--bottom" id="5737659" data-id="7"> <div class="row"> <div class="col-11"> <div class="comment__author float-left">Qadeer khan</div> <div class="timeago comment__date" title="2018-02-21T23:35:39+05:00"><span class="timestamp--time timeago" title="2018-02-21T23:35:39+05:00">Feb 21, 2018 11:35pm</span></div> <div class="comment__body mt-2 size-four clearfix"><p>Issue is not that PIA is running in losses but the reality is that management is not performing well and holding shares of 51% with government means that situation will remain the same. I wounder how the private air line and steel mill of our leaders are running in profit but the government organizations are running in losses.</p> </div> <div class=""> <input type="button" value="Reply" data-name="Qadeer khan" class="button button--short mr-2 comment__reply"/> <div class="button button--social" title="Recommend this comment">  <span class="button__label votejs__cast" data-vote-key="1390652/up-5737659">Recommend</span> <span class="button__count votejs__count" data-vote-key="1390652/up-5737659">0</span>  </div> </div> </div> </div> </div>  </section> </div> </div> </div>  </article> </div> </div> </main> <aside class="pb-4 ">  <section class="widget theme widget-adsense modifywidget-border-off modifywidget-transparent" data-type="adsense" data-id="1220"> <div class="widget__header"> <h2 class="widget__title modifywidget-title-off"><span>Desk Mrec Top</span></h2> </div> <div class="widget__main ">   <div class="ad " aria-hidden="true"> <div class="ad__label " 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href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391386/back-to-the-future" class="story__link">Back to the future</a></h2> <div class=" mt-1 "><span class="story__byline size-three text--black "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/authors/112/abbas-nasir">Abbas Nasir</a></span> </div></article>  </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="2" style="float:left;width:24%;margin-right:1.3333333333333%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391385" data-layout="story">  <figure class="media media--focus media--stretch col-sm-12 col-3 mr-sm-0 mr-2 float-sm-none px-0 "> <div class="media__item media__item--100 "><a title="" href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391385/securing-the-nation"><img src="https://web.archive.org/web/20180224154715im_/https://i.dawn.com/medium/2018/02/5a90bdb0ea5ec.jpg" alt="Securing the nation"/></a></div> </figure>  <h2 data-layout="story" data-id="1391385" class="story__title font--playfair-display py-0 "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391385/securing-the-nation" class="story__link">Securing the nation</a></h2> <div class=" mt-1 "><span class="story__byline size-three text--black "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/authors/933/tariq-khosa">Tariq Khosa</a></span> </div></article>  </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="3" style="float:left;width:24%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391176" data-layout="story">  <figure class="media media--focus media--stretch col-sm-12 col-3 mr-sm-0 mr-2 float-sm-none px-0 " data-focus-x="0%" data-focus-y="0%"> <div class="media__item media__item--100 "><a title="" href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391176/manifestos-and-education"><img src="https://web.archive.org/web/20180224154715im_/https://i.dawn.com/medium/2018/02/5a8f7b6a47fc9.jpg" alt="Manifestos and education"/></a></div> </figure>  <h2 data-layout="story" data-id="1391176" class="story__title font--playfair-display py-0 "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391176/manifestos-and-education" class="story__link">Manifestos and education</a></h2> <div class=" mt-1 "><span class="story__byline size-three text--black "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/authors/568/faisal-bari">Faisal Bari</a></span> </div></article>  </div> </div><div class="clear--both"> </div></div> </div> <div class="border--top border--thick border--black mx-sm-2 mx-0"> <h3 class="editorial-stories font--playfair-display my-2"><a class="editorial-stories" href="/web/20180224154715/https://www.dawn.com/opinion">Editorial</a></h3> <div class=" slideshow--list slideshow--editorial mt-2"> <div class="clear--both"> <div class="slideshow--row__item active pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="0" style="float:left;width:15.666666666667%;margin-right:1.2%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391384" data-layout="story"><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 24, 2018</span>  <h2 data-layout="story" data-id="1391384" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391384/senate-poll-challenge" class="story__link">Senate poll challenge</a></h2>  <div class="story__excerpt size-three font--georgia ">An unusual problem has been solved in an unusual manner, giving rise to the usual speculation of partisanship and bias. </div> </article>  </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="1" style="float:left;width:15.666666666667%;margin-right:1.2%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391383" data-layout="story"><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 24, 2018</span>  <h2 data-layout="story" data-id="1391383" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391383/back-to-load-shedding" class="story__link">Back to load-shedding</a></h2>  <div class="story__excerpt size-three font--georgia ">The govt has acknowledged that there is more to resolving the persistent power shortages than raw megawatts alone. </div> </article>  </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="2" style="float:left;width:15.666666666667%;margin-right:1.2%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391382" data-layout="story"><span class="story__time size-two text--gray font--arial ">February 24, 2018</span>  <h2 data-layout="story" data-id="1391382" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391382/dangerous-nexus" class="story__link">Dangerous nexus</a></h2>  <div class="story__excerpt size-three font--georgia ">INEXTRICABLY linked, illicit economies and organised crime pose extreme threats to societies. In Karachi’s... </div> </article>  </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="3" style="float:left;width:15.666666666667%;margin-right:1.2%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391170" data-layout="story"><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 23, 2018</span>  <h2 data-layout="story" data-id="1391170" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391170/regrettable-verdict" class="story__link">Regrettable verdict</a></h2>  <div class="story__excerpt size-three font--georgia ">The highest court in the land should be accorded the highest respect. Without the judiciary, rule of law is impossible. </div> </article>  </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="4" style="float:left;width:15.666666666667%;margin-right:1.2%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391169" data-layout="story"><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 23, 2018</span>  <h2 data-layout="story" data-id="1391169" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391169/no-place-for-newborns" class="story__link">No place for newborns</a></h2>  <div class="story__excerpt size-three font--georgia ">As the primary stakeholders in this venture, women must be empowered to exercise their rights and demand quality care. </div> </article>  </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="5" style="float:left;width:15.666666666667%;">  <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391168" data-layout="story"><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 23, 2018</span>  <h2 data-layout="story" data-id="1391168" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224154715/https://www.dawn.com/news/1391168/syrias-nightmare" class="story__link">Syria’s nightmare</a></h2>  <div class="story__excerpt size-three font--georgia ">Is it only a matter of time before a new regional conflict in the Middle East materialises? </div> </article>  </div> </div><div class="clear--both"> </div></div> </div> <div class="px-2">   <div class="ad py-4 d-block d-sm-none" aria-hidden="true"> <div class="ad__label " style="max-width:728px;">Advertisement</div> <div class="js-ad clearfix" style="max-width:728px;padding-bottom:12.362637362637%;text-align:center;margin:0 auto;overflow:hidden;"> <div class="radWrapper ad__wrapper"> <div id="div-gpt-ad-1455531878761-2" class="ad__wrapper__slot" style="width:728px;position:absolute"> <script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1455531878761-2'); 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PIA’s 51pc shares, management to remain with state - Pakistan - DAWN.COM