Govt Will Only Sell 75% of PIA If Airline Name is Kept UnchangedGovt Will Only Sell 75% of PIA If Airline Name is Kept Unchanged
The federal government has confirmed that 75 percent of Pakistan International Airlines’ shares will be privatized under one condition that the airline’s name and theme will remain unchanged after the transaction.
The update was shared during a detailed briefing to Prime Minister Shehbaz Sharif at a high-level meeting on Thursday in Islamabad.
The Prime Minister directed that all stages of PIA’s privatization be completed swiftly and transparently, while also instructing authorities to prepare an action plan to increase the number of airworthy aircraft and ensure timely flight departures.
Officials briefed the meeting that four parties have been pre-qualified for the bidding process, which will be held soon. The business plan linked to the privatization aims to expand PIA’s fleet from the current 18 airworthy aircraft to 38 by 2029. The airline, which currently serves more than 30 cities, is expected to increase coverage to over 40 cities within the same period.
The meeting was attended by senior members of the federal cabinet, including the ministers for defence, law, economic affairs, and finance, alongside the prime minister’s adviser on privatization and other officials.
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