Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Ernst & Young Appointed as Financial Advisor for PIA Privatisation
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
PIA Privatization
PhotoNews Pakistan > Pakistan > Ernst & Young Appointed as Financial Advisor for PIA Privatisation
Pakistan

Ernst & Young Appointed as Financial Advisor for PIA Privatisation

Web Desk
By Web Desk Published November 10, 2023 2 Min Read
Share
Pakistan International Airlines Aeroplane
SHARE

The Privatisation Commission has selected Ernst & Young, a renowned British multinational firm, as the financial advisor for the privatisation process of Pakistan International Airlines (PIA). This move is part of a broader strategy to prepare the loss-making national airline for sale.

During a Board of Directors of the Privatization Commission meeting chaired by Minister Fawad Hasan Fawad, the decision was made to appoint Ernst & Young. Of eight financial advisory firms that submitted proposals, Ernst & Young was chosen to lead the privatisation efforts. They will be heading a consortium to manage the stake sale of PIA.

The commission also discussed issues related to the House Building Finance Company Limited (HBFC) and decided to extend the tenure of its Financial Advisor. Additionally, the tenure of the Financial Advisor for the First Women Bank was extended. The meeting also aimed to identify responsibility for delays in the privatisation of HBFC and the First Women Bank.

The caretaker Prime Minister Anwaarul Haq Kakar has previously directed the concerned authorities to accelerate the privatisation process of PIA.

In a related development, the Cabinet’s Economic Coordination Committee (ECC) approved a Rs. 8 billion bridge financing package for PIA to meet its urgent payment obligations. The funding, facilitated by the Civil Aviation Authority’s (CAA) resources, was approved by the ECC, allowing the Aviation Division to proceed with the arrangement between the CAA and PIA.

The Aviation Division submitted the proposal for this financial support, and the meeting for its approval was presided over by Dr. Shamshad Akhtar, the Caretaker Federal Minister for Finance, Revenue, and Economic Affairs.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Microsoft employee layoffs

Microsoft Announces 9,000 Layoffs, Impacting Less Than 4% of Workforce

Sean Diddy Combs guilty on 2 prostitution counts, not guilty on trafficking in 2025 trial

Sean ‘Diddy’ Combs Verdict: Guilty on Two Counts, Not Guilty on Three

Paris Heatwave

Europe Heatwave Claims 4 lives Sparks Deadly Wildfires

Post Archives

More Popular from Photonews

Squid Game Season 3
Entertainment

Squid Game Season 3 Premieres on Netflix, Caps Intense Season 2 Drama

3 Min Read
Bajaur Bomb Blast
Khyber Pakhtunkhwa

Bajaur Bomb Blast Kills Five, Injures 11 in Khyber Pakhtunkhwa

2 Min Read
Shreyas Iyer’s Home Cricket Video with Mom
Offbeat

Shreyas Iyer’s Mother Clean Bowled Son in Home Cricket Session

2 Min Read
Top NewsWorld

Trump Hints at Deporting Elon Musk Amid Feud Over Tax Bill

On July 1, 2025, President Donald Trump suggested he might consider deporting Elon Musk, a naturalised…

July 1, 2025
Sports

Paul Pogba Signs with Monaco to Revive Career After Two-Year Hiatus

On June 28, 2025, Ligue 1 club Monaco announced a two-year contract with Paul Pogba, marking…

June 29, 2025
BusinessTop News

Wall Street Dips as Tesla Falls Amid Trump-Musk Feud Over Tax Bill

On July 1, 2025, Wall Street retreated from record highs as Tesla shares dropped 5% amid…

July 1, 2025
World

Trump Signals No Tariff Pause Extension, Plans Letters with Trade Penalties

On June 29, 2025, President Donald Trump announced that the U.S. will not extend the 90-day…

June 30, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?