Pakistan Authorities Renew Efforts to Privatise National Airline

Pakistan authorities are making another attempt to privatise Pakistan International Airlines after a failed bid last year. The process is expected to begin shortly, with potential sales ranging between 51% to 100% of PIA's shares. The airline recently reported a profit after over two decades.

Pakistan's government has renewed efforts to privatise the state-owned Pakistan International Airlines (PIA) which has struggled financially for years. Last year, a bid to find a buyer proved unsuccessful as it failed to attract major interest, with the only offer being rejected due to its low value.

Privatisation and Investment Minister Abdul Aleem Khan announced that all steps for PIA's privatisation will conclude by May. The privatisation commission, chaired by Muhammad Ali, plans to initiate the sale next week with a fresh call for interest from potential buyers.

The PIA's latest financial reports showed a surprising return to profitability, overcoming over two decades of losses. This was achieved after the government addressed substantial debts separately, making the airline debt-free while preparing it for privatisation.

(With inputs from agencies.)