Pakistan Set to Auction National Airline on Oct. 1

Pakistan will hold an auction for its national airline, Pakistan International Airlines (PIA), on October 1. The decision is part of broader reforms recommended by the International Monetary Fund. The government plans to sell between 51% to 100% of the loss-making airline.

The bidding for Pakistan's national airline, Pakistan International Airlines (PIA), is set to take place on October 1, broadcaster Ary News reported Tuesday, citing information from the head of the National Assembly privatisation committee.

"The (Pakistan International Airlines) auction will be finalised on the first day of next month," National Assembly member Farooq Sattar was reported to have announced during a session of the committee.

Previously, the Pakistani government stated its intent to sell a stake of between 51% and 100% in the airline, which has been operating at a loss. This move is part of a series of reforms urged by the International Monetary Fund.

(With inputs from agencies.)