Govt makes plan to sell PIA ahead of elections

Islamabad: The caretaker government has made plans to sell loss-making Pakistan International Airlines (PIA), before the upcoming general elections on February 8.

According to the details, the government decided to privatize PIA just weeks after signing the International Monetary Fund (IMF) agreement.

Moreover, Privatization Minister Fawad Hasan Fawad stated that we have done our 98 percent work regarding the privatization of PIA. The plan drawn up by transaction adviser Ernst & Young, will be presented to the cabinet for approval before the tenure of the administration ends following the election.

The cabinet will also decide whether to sell the stake by tender or through a government-to-government deal, Fawad added.

Fawad further said that what we have done in just 4 months is what past governments have been trying to do for over a decade, there is no looking back now.