PM Shehbaz directs to privatize PIA by June

Islamabad: Prime Minister Shehbaz Sharif has directed the privatization of Pakistan International Airlines (PIA) by June following the demand of the International Monetary Fund (IMF).

According to the media reports, the Privatization Commission says that preparations are being made to privatize PIA in June instead of October. It has been decided to start a security audit and consultation with the US Federal Aviation Authority to open US routes to improve the financial condition of PIA.

It is also reported that preparations are being made to call a delegation of American experts in March or April to open US routes.

It is pertinent to note that the IMF has demanded that all steps be taken for the privatization of PIA before July.

Following the demand of the IMF, Prime Minister Shehbaz Sharif should issue instructions to the Ministry of Finance, Ministry of Privatization, and PIA officials regarding the privatization of PIA.

The media reports also suggest that earlier it was decided to privatize PIA by October, now the duration of the privatization process has been reduced and the Prime Minister has issued instructions to complete the target in the next four months.