Govt to reinvest most of bidding proceeds in PIA ,
Govt to reinvest most of bidding proceeds in PIA , Major obstacles that undermined previous privatisation attempt have been removed, says PM's adviser . Govt to invest 92.5% of bidding proceeds back into PIA: PM's aide. PIA to need additional Rs80bn after privatisation for stabilisation. M Ali says Rs33bn in liabilities, other major hurdles removed. ISLAMABAD: The government is set to auction 75% stake in the Pakistan International Airlines (PIA) with a commitment to reinvest most of the proceeds back into the national airline marred by financial woes, The News reported on Friday, citing officials' briefing to a Senate panel. Prime Minister's Adviser on Privatisation Muhammad Ali said 92.5% of the bidding proceeds would be reinvested in PIA to support its turnaround, adding that the airline would still require an additional Rs80 billion in financing after privatisation to stabilise operations and fund growth. He said the government plans to place some electricity dist...