ISLAMABAD: Pakistan International Airlines Company Ltd. (PIACL) reported a loss of Rs75 billion in 2023, with total assets of Rs161 billion and total liabilities of Rs825 billion, to the Standing Committee on Privatization of the National Assembly.
It was suggested at a committee meeting presided over by MNA Dr. Muhammad Farooq Sattar that PIACL’s employees’ rights be upheld throughout the privatization process.
It was also told that in order to attract possible investors, the privatization was being done in compliance with industry best practices and with consideration for PIACL’s financial standing and viability.
The committee was also told that, at the request of the Cabinet Committee on Privatization (CCoP), the Privatization Commission carefully followed the guidelines in choosing Jones Lang LaSalle Americas, Inc. (JLL) to serve as the financial adviser for the Roosevelt Hotel privatization in New York. JLL has since provided the commission with a transaction structure report.
