ISLAMABAD: After receiving approval from the International Monetary Fund (IMF), the government intends to issue an Expression of Interest (EoI) this month in a renewed attempt to privatize Pakistan International Airlines (PIA). This will offer a clean balance sheet and shield the buyer from an 18% GST on aircraft purchases.
Notably, the nation’s aviation industry will also qualify for this 18% GST exemption if the national flag carrier is privatized. According to The News, this will also help private operators expand their businesses and services.
The interested parties had retracted their plans and even skipped the bidding process in a prior attempt to sell this asset because they thought the two major impediments would prevent them from running.
