Pakistan's Privatisation Commission has recently approved the appointment of Ernst & Young, a British multinational, as the financial advisor for the privatisation of Pakistan International Airlines (PIA). The decision was made during a meeting chaired by Minister Fawad Hasan Fawad. The commission had received proposals from eight financial advisory firms, but Ernst & Young was chosen to prepare plans for the sale of the national flag carrier. They will lead a consortium to manage the stake sale process. Additionally, the commission extended the tenure of its Financial Advisor for the House Building Finance Company Limited (HBFC) and First Women Bank. It also discussed the liability for the delay in privatising HBFC and First Women Bank.
