ISLAMABAD The bidders seeking to purchase stakes in Pakistan International Airlines (PIA) have now sought complete ownership of the airline, The News reported on Tuesday. This comes days after Finance Minister Muhammad Aurangzeb gave assurances regarding PIA’s privatization in the current year.
The sale’s future is uncertain due to fleet aging, financial obligations, and operational challenges, therefore the six pre-qualified bidders—who were first drawn in by an offer for a 60% stake—now demand total control over the PIA.
The disclosure comes after a story in the journal highlighted the bidders’ hesitancy to keep the current employees as well as tax-related issues.
The nation’s much awaited proposal to sell off its struggling national carrier was delayed until October 31 last month. Following the privatization process’s extension to October 1st, there was a deferral.
