Expressions of interest for the privatization of Pakistan International Airlines (PIA) have been invited till May 3.
According to sources, the successful bidder for privatization will also be given administrative control of PIA and the process of privatization will be completed by June 24.
IMF has imposed the condition of privatization of PIA in the current financial year.
According to the Privatization Commission, an application can be made for acquisition of 51 to 100 percent stake. In the year 2023, more than 2 crore passengers traveled in PIA.
The board approved the government’s plan, fulfilling the key legal requirement for privatization of PIA
PIA carries an average of over 5 million passengers annually to 34 countries.
The privatization Commission has said that PIA has 97 profitable international routes and PIA operates 260 flights in a week, increasing the number of air travelers in Pakistan by 5.5% annually.
It should be noted that several legal hurdles were removed for the privatization of PIA in the past days and the board of directors approved the government’s plan to privatize PIA.