ISLAMABAD: Pakistan’s privatization commission is addressing concerns voiced by those qualified to bid for the country’s national airline about a European Union Aviation Safety Agency (EASA) ban on the carrier, an official said on Wednesday.
The privatization of the loss-making state-owned enterprises has long been on the International Monetary Fund’s list of recommendations for Pakistan, which is seeking to strike a deal with the fund for a longer term bailout this month.
The privatization commission pre-qualified six consortiums for bidding in June and expects to conclude the privatization process of Pakistan International Airlines by next month.
Usman Bajwa, secretary of the commission, told a briefing the body was addressing concerns voiced by those pre-qualified by the government to bid for a stake ranging from 51 percent to 100 percent.
Previous governments avoided disposing of the flag carrier as a potentially highly unpopular move, but the country needs to unlock further funding from the IMF.
EASA banned the PIA from its most lucrative routes in Europe and Britain after a PIA plane crash in Karachi in 2020 killed nearly 100, followed by a scandal over pilot licenses.
The ban continues, costing the airline annual revenue of nearly 40 billion rupees ($143.73 million), the government has told parliament.

($1 = 278.3000 Pakistani rupees) 

ISLAMABAD: Pakistan has expressed interest in connecting with Russia through Central Asia for the promotion of bilateral trade, state media reported on Wednesday, as the South Asian state seeks to enhance its role as a transit hub for landlocked economies in the region.
Pakistan’s engagement policy with Central Asian Republics revolves around allowing them to use the seaport in Pakistan’s southern Karachi city for transit trade and offering access to the Arabian Sea. This was at the top of the agenda of talks as Prime Minister Shehbaz Sharif went on a visit of Tajikistan from July 2-3, ahead of attending the Shanghai Corporation Organization (SCO) summit in Kazakhstan.
Pakistan has been facing an economic slowdown for the last two years and is currently making efforts to expand bilateral trade with friendly nations and seek investments.
“Pakistan is keen to connect Russia through Central Asian countries for the promotion of bilateral trade,” Radio Pakistan said, quoting minister for privatization and investments, Abdul Aleem Khan, who met with Russian Ambassador to Pakistan Albert P. Khorev in Islamabad.
The two officials discussed road connectivity between Russia and Pakistan to increase trade and cargo activities, Radio Pakistan added.
Khorev was quoted in the statement as saying Moscow attached “great importance” to trade and economic relations with Pakistan and was willing to provide financial and technical support in various projects. He also said Russia wanted to establish a trade corridor to Pakistan through Tajikistan, Uzbekistan and Afghanistan.
Last year, Pakistan began making purchases of discounted Russian crude oil under a deal struck between Islamabad and Moscow. Pakistan also received its first shipment of liquified petroleum gas from Russia, marking Islamabad’s second major Russian energy purchase.
The South Asian state also notified a mechanism for barter trade with Russia, Iran and Afghanistan in February 2023, allowing state-owned enterprises and private sector entities to engage both in imports and export of goods.