PIA privatization gains momentum

The process of Pakistan International Airlines (PIA) privatization has once again gained momentum after interest shown by prominent groups.  

As per report, some of the groups who has shown interest in buying the national carrier are the Arif Habib Group, Taba Group, and YB Holdings.

Already some meetings among the representatives of these groups to discuss the potential acquisition of PIA have taken place in Islamabad.

Report suggest that they have expressed their willingness to proceed with the acquisition of Pakistan’s national airlines, provided their conditions are met.

One of the condition is that government assumes responsibility for PIA’s outstanding liabilities, including billions owed to the Federal Board of Revenue (FBR), Pakistan State Oil (PSO), and the aviation sector.

Moreover, it is revealed that the International Monetary Fund (IMF) has asked the government to privatize PIA by July.

This development comes as part of broader economic reforms and restructuring efforts aimed at improving the financial health of the national carrier.

The government is actively engaging with international financial institutions, including the World Bank, to ensure the success of the privatization process.