The PIA Holding Company retains 36 properties after the sale of 11 assets, according to documents of the Privatization Commission seen by ProPakistani.
The remaining properties are located in Pakistan, the United States and France, and include major overseas assets such as the Roosevelt Hotel in New York and the Scribe Hotel in Paris. The portfolio also comprises sales offices, warehouses, a farmhouse, hundreds of acres of land and a housing colony.
The documents show that seven of the 36 properties were transferred to the PIA Holding Company through a gazette notification. These include an open plot in Islamabad, a sports complex and a football ground in Karachi.
According to the Privatization Commission, the remaining properties could be used to help settle the Holding Company’s outstanding liabilities.
The documents also state that the government expects to complete the sale of the remaining 25% stake in Pakistan International Airlines during the current fiscal year. The transaction is expected to generate around Rs45 billion for the government.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
