Pakistan’s financial advisors have reportedly briefed international investors on the privatization of Pakistan International Airlines (PIA). Sources indicate that aviation investors from Qatar, Abu Dhabi, and Saudi Arabia were contacted and provided with a briefing on the privatization of PIA.
These sources further reveal that investors were informed about the potential for ‘profitable’ investment in both the Federal Investigation Agency (FIA) and PIA’s international routes. It’s been stated that all financial losses and debts of the national airline have been settled, having been shifted to a withholding company prior to privatization. Allegedly, all obstacles to the PIA privatization process have been addressed.
Notably, three Gulf countries—United Arab Emirates, Saudi Arabia, and Qatar—have expressed interest in acquiring the financially struggling Pakistan International Airlines as the government accelerates its privatization efforts, as per sources.
Previously, bids for the privatization of PIA were solicited from buyers with a deadline set for May 3rd. The government’s intention is to privatize the aviation segment of PIA, retaining 51% ownership of the national flag carrier, while the remaining 49% ownership will be retained by the government.
It has been emphasized that the administrative control of PIA will also be transferred to the entity purchasing the 51% shares.
