Cabinet to give final approval for plan to sell PIA minister
Sale is part of reforms under IMF bailout package
Debt to be stripped out to offer clean entity for sale
39;Don39;t throw it away39;, says PIA source

ISLAMABAD, Feb 2 Reuters Ahead of elections next week, Pakistan39;s caretaker administration is making binding plans for a new government to sell lossmaking Pakistan International Airlines, according to the minister in charge of the process and other officials.

In the past, elected governments have shied away from undertaking unpopular reforms, including the sale of the flag carrier. But Pakistan, in deep economic crisis, agreed in June to overhaul lossmaking stateowned enterprises under a deal with the International Monetary Fund IMF for a 3 billion bailout.

The government decided to privatise PIA just weeks after signing the IMF agreement.

The caretaker administration, which took office in August to oversee the Feb. 8 election, was empowered by the outgoing parliament to take any steps needed to meet the budgetary targets agreed with the IMF.

Our job is 98 done, Privatisation Minister Fawad Hasan Fawad told Reuters when asked about the plan to sell the airline. The remaining 2 is just to bring it on an excel sheet after the cabinet approves it.

Fawad said the plan, drawn up by transaction adviser Ernst Young, will be presented to the cabinet for approval before the tenure of the administration ends following the election. The cabinet will also…