ISLAMABAD: According to the Associated Press of Pakistan, the Supreme Court has revoked its previous ruling that prohibited the government from selling up Pakistan International Airline (PIA) without the government’s consent.
In a suo motu notice regarding the privatization of national companies, then-chief judge Saqib Nisar issued an order six years ago that was reversed by the six-member Constitutional Bench on Thursday.
The panel, led by Justice Aminuddin Khan, ordered the government not to move further with PIA’s privatization without first obtaining the SC’s approval during a brief hearing on Thursday.
Days after the European regulator gave the national carrier permission to resume flights to the continent following a four-year hiatus, the highest court’s ruling was made.
Khurram Mushtaq is named interim CEO of the airline.
The lone bid for the airline was about Rs75 billion less than anticipated, marking the government’s maiden effort at the much awaited privatization last month.
In contrast to the minimum price of Rs85.03 billion set by the Privatization Commission, the Blue World City group offered Rs10 billion for a 60% interest.
The Cabinet Committee on Privatization also supported the commission’s decision to reject the offer.
Federal Privatization Minister Abdul Aleem Khan made a suggestion of selling PIA with no debt after the unsuccessful attempt to sell the airline.
The new CEO of PIA
In a separate development, the national carrier named a senior executive as its acting CEO on Thursday.
At a meeting of the board of directors on Thursday, it was decided to name Khurram Mushtaq as acting CEO.
According to a PIA spokesperson, Mr. Mushtaq will assume his new role following the conclusion of Air Vice Marshal Amir Hayat’s term as the current CEO.
The end date of the period was not specified in the announcement.
According to the spokesperson, the interim CEO has a wealth of aviation knowledge and was one of the airline’s senior executives.
He has held positions as head of security and vigilance, flight services, airport services, and commercial.
