Islamabad: Pakistan International Airlines (PIA)’s privatisation process will be completed by October 1, Privatisation Commission Secretary Usman Akhtar Bajwa told Senate Standing Committee on Privatisation.

In April, Finance Minister Muhammad Aurangzeb stated that process of privatising PIA will be finalised by end of June or early July. During today’s session of Senate Standing Committee on Privatisation, chairman Talal Chaudhry asked secretary reason for extending date for airlines’ privatisation process once again, inquiring if date would exceed October 1. “We are trying not to let date exceed,” Secretary replied, adding that Prime Minister Shehbaz Sharif had said he did not want to extend process beyond October 1. Secretary said that six companies were finalised for national carrier’s bid, which included Fly Jinnah, Air Blue, Arif Habib Corporation, Y.B. Holdings, Pak Ethanol and Blue World City. Secretary noted national flag carrier’s poor performance and deemed it close to “Not functioning at all”, adding that successful bidder would have to cover gap of Rs 80 billion in first year.