ISLAMABAD: Caretaker Privatisation Minister Fawad Hassan Fawad on Saturday said that all the legal formalities had been completed for the privatisation of Pakistan International Airlines (PIA).

Talking to a private news channel, he outlined various stages of the process for the PIA’s privatisation, saying that the Privatization Commission was diligently executing the task.

Fawad said that in order to ensure transparency in the PIA’s privatisation, the representatives of Civil Aviation Authority (CAA), besides the ministries of education, law, and finance had also been taken on board.

He said the caretaker government was carrying out the privatisation under the

constitutional amendments enacted by the previous elected government. The decision to the effect was taken by the then government to prevent further deterioration of the economy, he added

The minister rejected rumours of negotiations about buying of the PIA by a foreign government. Such baseless allegations were being levelled by certain elements for their vested interests, he added.

To a question, he said that the caretaker federal cabinet would ensure that no employee of the PIA was unjustly deprived of his legitimate rights.

He said the problems being faced by the national airline due to governance issues, financial mismanagement and appointment of individuals ill-equipped to manage the aviation industry.

He underscored the urgent need for reforms to prevent further deterioration of public institutions, including the PIA.

To a query, the minister said the general elections would be held on the scheduled date of February 8 and the caretaker government was extending fully support the Election Commission of Pakistan (ECP) in conducting the polls.