Islamabad, June 19 (TNS): Pakistan International Airlines (PIA) is on the verge of selling its properties which are located in the posh areas of the country and are worth billions of money.
PIA is set to hire a valuator who can determine the actual worth of these properties which PIA intend to sell.
The properties owned by PIA also reside in the northern areas of Pakistan such as Gilgit Baltistan and Azad Kashmir, the properties also include offices and construction buildings.
PIA will look to revalue the 30 properties in its ownership, as it posted on its official website and will prefer a valuator approved by the State Bank Of Pakistan (SBP).
PIA says that the most competitively lowest bidder will be asked to give their estimated market values of these properties. The qualifying valuator will be given details about PIA’s properties city wise and will be asked for an assessment.
The purpose of valuation is to know the market price of its assets.
Sources told that, PIA is looking to sell these properties worth billions of rupees to fulfill its financial obligations.
Due to accounting standards, the value of assets has decreased with each passing year. In PIA’s accounts, these properties’ have been valued at almost zero, however, on ground, their values have actually elevated.
