Ten eminent businesses have indicated interest in the privatization of the national airline, PIA, and have asked for a 15-day extension to submit their applications, according to Federal Minister for Privatization Abdul Aleem Khan.
A 15-day extension has been granted, according to Abdul Aleem Khan, who also made it clear that there won’t be any more extensions for submitting statements to PIA.
Three regional airlines also wish to join forces with foreign businesses to establish a consortium for the privatization of the PIA, the federal minister disclosed.
He claimed that people who lost Rs. 830 billion to PIA were blind to the advantages of privatization. Abdul Aleem Khan declared, “Privatization of all loss-making institutions is a priority.”
He went on to say that the economy is now burdened by distribution businesses, PIA, and steel factories.
Abdul Aleem Khan highlighted how Pakistan’s growth has been impeded by negative institutions.
“All airlines put together have a smaller share than PIA,” said the minister of privatization.
PIA offers routes to places including Madinah, Hong Kong, China, and Jeddah. PIA offers direct service to Toronto, Washington, and London. When new planes arrive, PIA will turn a profit, he claimed.
