ISLAMABAD:The federal government has approved Pakistan International Airlines PIA privatisation, allowing private investors to purchase between 51 per cent and 100 per cent of the airline’s shares.
The decision was made during a meeting of the Cabinet Committee on PIA Privatisation, led by Deputy Prime Minister Ishaq Dar. He said that privatizing PIA would reduce the financial burden on the government and help the airline grow. After the sale, private owners will also take control of the airline’s management.
The government believes this step is in the country’s best interest and will make PIA financially stable in the long run.
Several business groups, including Arif Habib Group, Taba Group, and YB Holdings, have shown interest in buying PIA. Meetings have already taken place in Islamabad to discuss the deal.
Earlier, on March 19, the PIA Privatisation Commission Board had approved the plan to sell PIA’s shares and management rights.
This is the second attempt to privatize PIA, as the government looks for ways to make the airline profitable again.
