Apex court withdraws order barring PIA privatisation without its approval
ISLAMABAD: The Supreme Court has withdrawn its earlier order barring the government from privatising Pakistan International Airline (PIA) without its permission, the Associated Press of Pakistan reported.
The six-member Constitutional Bench on Thursday overturned the six-year-old order by then chief justice Saqib Nisar in a suo motu notice over the privatisation of national entities.
In a brief hearing on Thursday, the bench, headed by Justice Aminuddin Khan, directed the government not to proceed with PIA’s privatisation without SC’s prior permission.
The top court’s decision came days after the European regulator allowed the national carrier to restart its flight operations to the continent after four years.
Airline names Khurram Mushtaq interim CEO
The government’s first attempt at the much-anticipated privatisation last month as the sole bid for the airline was around Rs75 billion lower than expected.
The Blue World City consortium submitted its bid of Rs10 billion for a 60 per cent stake against the minimum price of Rs85.03bn, fixed by the Privatisation Commission.
The commission rejected the bid, and the decision was also endorsed by the Cabinet Committee on Privatisation.
Following the failed attempt to sell PIA, Federal Privatisation Minister Abdul Aleem Khan hinted at selling the airline with zero liabilities.
New PIA CEO
Separately, on Thursday, the national carrier appointed one of its senior executives as interim chief executive officer (CEO).
The decision to appoint Khurram Mushtaq as acting CEO was taken at a board of directors’ meeting on Thursday.
A PIA spokesman said Mr Mushtaq will take charge of his new post after the tenure of the incumbent CEO, Air Vice Marshal Amir Hayat, comes to an end.
The statement did not specify when the term would end.
The spokesman said the interim CEO was one of the airline’s senior executives and has extensive experience in aviation.
He has served as head of commercial, airport services, flight services and security and vigilance.
Published in Dawn, December 6th, 2024