Islamabad: (Right Now News) Six months after PIA’s privatization, control has not been transferred to the buyer consortium. Sources indicate that the national airline’s control was to be transferred on May 25. Now, the plan is to hand over control to the consortium by the end of June.

Sources have revealed that the delay in administration is due to the non-issuance of NOCs (No Objection Certificates). The NOCs are delayed due to bureaucratic slowdowns, while the consortium was to deposit 85 billion rupees after receiving the NOCs.

A spokesperson for the Privatization Commission stated that the process of obtaining local and foreign NOCs is ongoing. More than 40 NOCs are required in total, most of which have been obtained.

The spokesperson mentioned that all NOCs will be issued in the next few days. The consortium has assured that once the NOCs are complete, the amount of 83 billion rupees will be received.

It is noteworthy that the PIA privatization process began last year, aimed at rescuing the national airline from financial crisis and improving performance.