The financial advisors proposed selling the shares along with management control. The advisor’s report on PIA –the Avion project – remains incomplete on account of the valuation of the PIA assets, including its local and international routes. The sources said that the advisors proposed that the new buyers should have the right to fire employees after one year. The money proposed to be parked in the new entity includes the Rs161 billion debt of the federal government and Rs281 billion debt of the commercial banks. The financial advisors proposed that the Rs83 billion payments to the lessors of the aircraft should be picked up by the federal government.

Source: The Express Tribune January 10, 2024 16:43 UTC