On January 25, Caretaker Federal Minister for Privatization Fawad Hasan Fawad chaired a meeting of the Privatization Commission with Financial Advisor for divestment of Pakistan International Airlines Corporation Limited (PIACL) Ernst & Young (EY).
The financial advisor presented a Business Plan forecasting the investment roadmap of PIACL together with the immediate funding requirements of the airline. The proposed plan covered the capital and fleet requirements of the airline in the short and medium term to make it a viable and globally competitive airline.
The Federal Minister advised further rationalization of the projections before submission of the plan for approval of federal cabinet.
The legal segregation plan and transaction structure together with the business plan and valuation methodology shall be taken to the federal cabinet for final approval.
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