Govt to sell Pakistan International Airlines before general elections

ISLAMABAD: Pakistan will try to privatize its national airline before general elections due this year, privatization minister Daniyal Aziz said, as the ruling party seeks to restart sales of state-run businesses, reported Reuters.

Pakistan International Airlines (PIAa.KA)(PIA), hemorrhaging money and losing market share to Gulf-based rivals such as Etihad and Emirates, has been hit by management turmoil in recent years and a 2016 plane crash that led to 47 deaths.

Read Also: Number of broadband users including 3G and 4G has crossed 50 million

The privatization of loss-making entities that were draining the exchequer was a key priority for the Pakistan Muslim League-Nawaz (PML-N) party when it swept to power in 2013.

PIA was among 68 state-owned companies earmarked for privatization in return for a $6.7 billion International Monetary Fund package that helped Pakistan to stave off a default in 2013.

Despite some initial success, the process stalled in 2016 after staff protests caused havoc with PIA operations and the government passed a law that effectively made it impossible to privatize the airline.

Read More

Leave a Reply

Your email address will not be published.