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Government announces sale of Pakistan International Airlines majority shares
The Business Guardian
|April 06, 2024
The federal government of Pakistan is considering a significant move that could reshape the aviation landscape of the country.
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Reports from ARY News suggest that the government is mulling over the sale of a majority stake in Pakistan International Airlines (PIA), the national flag carrier. Bilal Azhar Kayani, the Coordinator to Prime Minister on Economy and Energy, shared insights into this potential development during an appearance on the ARY News show ‘KHABAR’.
Kayani revealed that the Privatization Commission is on the verge of finalizing the privatization process of PIA. He mentioned that the government is deliberating on the extent of shares it intends to divest, with possibilities ranging from selling around 51 percent to relinquishing complete control by offloading 100 percent of its shares. Moreover, Kayani emphasized that once the majority of shares are acquired by a new entity, administrative control over PIA will be transferred accordingly.
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