The Senate Standing Committee on Privatization is holding a meeting under the chairmanship of Senator Afnanullah Khan, with a review of Pakistan International Airlines’ (PIA) privatization on the agenda.
During the meeting, Secretary Privatization Commission Usman Bajwa said the commission’s budget will be increased in the next fiscal year. He added that the prime minister has directed authorities to enhance the capacity of the Privatization Commission and hire market experts for privatization processes.
The secretary said experts are required for the privatization of DISCOs, GENCOs and airports, and that such professionals are hired from the market on three-year contracts. Responding to a question by Senator Bilal Khan, he said the tenure of financial advisers depends on the size of the institution.
He further explained that financial advisers conduct a complete assessment of institutions and recommend suitable privatization methods, noting that privatizing DISCOs and GENCOs is significantly different from aviation and financial sector privatization.
