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The government has decided to privatize Pakistan International Airlines (PIA) on October 1, 2024.
This decision was announced during a special meeting of the Standing Committee on Privatization, chaired by MNA Dr. Farooq Sattar.
In the meeting, Privatization Division Secretary Jawad Paul provided the latest updates, confirming that the privatization process for PIA will be completed by September.
Privatization Minister Abdul Aleem Khan had earlier referred to PIA as a “white elephant,” highlighting that the national flag carrier has caused a loss of Rs830 billion to the national exchequer.
Earlier in July, the government postponed the bidding date to October 1, citing concerns from potential bidders about the ban on PIA flights to Europe, delays in sharing audited accounts, and issues related to the draft of the shareholding agreement.
The government had initially aimed to finalize the deal by August 14.
