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Pakistan's privatisation commission approves new structure for PIA sale
ISLAMABAD (92 News) The Privatisation Commission of Pakistan has approved a new transaction structure for the second attempt to privatise Pakistan International Airlines (PIA), involving the sale of 51-100 per cent of the airline’s share capital, along with management control.
The decision was made during a meeting chaired by Muhammad Ali, the Prime Minister's Adviser on Privatisation, and is now awaiting final approval from the Cabinet Committee on Privatisation (CCoP).
This move follows the government's commitment to privatise PIA by July 2025, as agreed with the International Monetary Fund (IMF).
The first privatisation attempt failed after weak scrutiny and a lack of investor interest. The new proposal seeks to offer full control to private investors, addressing previous concerns that the government would maintain undue influence.
In addition to the PIA privatisation, the board also discussed the potential sale of the Roosevelt Hotel in New York, with further briefings planned to determine the best approach for its divestment.
The latest developments signal the government's renewed push for economic reforms, with hopes to attract investment and reduce public sector liabilities.