ISLAMABAD: The government’s first attempt to privatise Pakistan International Airlines Corporation Ltd (PIAC) cost the national exchequer $4.3 million, the National Assembly Standing Committee on Privatisation was informed on Tuesday.

Secretary Privatisation Jawad Paul informed the committee that $4.3m had been paid to the financial adviser Ernst & Young (E&Y) out of a total fee of $6.8m, representing 63 per cent of the agreed payment. The remaining $2.5m will be paid upon the completion of the transaction.

The secretary also informed the committee that the Privatisation Commission had carried out the valuation of properties to be........

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