Federal Minister Khawaja Asif announced that PIA’s privatization will finish by October. Facing a massive debt of Rs. 800 billion, the government views privatization as crucial for PIA’s recovery. The airline has struggled with flight suspensions and operational challenges. Asif emphasized that privatization will help PIA regain stability and attract new investments.
Meanwhile, Deputy PM Ishaq Dar outlined plans to resume flights to the UK and privatize Islamabad International Airport. These actions aim to improve management and strengthen Pakistan’s aviation sector. For years, PIA, once a national pride, has faced poor management and rising debts. The government hopes privatization will boost passenger confidence and restore the airline’s international standing.
By proceeding with PIA’s privatization, Pakistan aims to reduce the financial burden on the national budget and create a more competitive market. Experts believe these changes are essential for PIA’s revival. The government remains committed to ensuring a transparent process that benefits all stakeholders.
For further details, check the International Air Transport Association (IATA) or the World Bank on Aviation.
