Pakistan’s national airline, Pakistan International Airlines (PIA), is scheduled to be auctioned on October 1st. This was announced by Farooq Sattar, a member of the National Assembly and head of the privatization committee, during a recent session.
The government of Pakistan has previously stated its intention to sell a significant portion of PIA, ranging from 51% to 100%. This move is part of a broader reform package mandated by the International Monetary Fund (IMF), which aims to address the airline’s persistent financial losses.
The upcoming auction signifies a major step in the government’s efforts to restructure PIA and improve its financial stability. It remains to be seen who will emerge as the winning bidder and what the implications will be for the airline’s future.
