Privatization Minister Abdul Aleem Khan has announced a crucial date for the privatization of Pakistan International Airlines (PIA). Speaking at a Lahore event on Sunday, Khan identified October 1st as the significant date for the process, which has been under government review.
Khan described PIA as a financial burden, having caused a loss of Rs830 billion to the national exchequer. He also mentioned that the privatization process would be broadcast live to ensure transparency. Despite being a government burden, Khan noted that interest from private companies was growing.
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The minister revealed that six Pakistani firms interested in PIA have international partnerships with companies from Malaysia, Turkey, and the UAE. He assured that the privatized airline would meet international standards. The plan for privatization was initiated by the previous caretaker government, and a consultant was hired to expedite the process. Although bidding was initially set for August, it has faced delays due to various issues.
Challenges such as PIA’s European ban and its financial liabilities are complicating the sale, but negotiations continue.
