Federal Cabinet Approves Privatization Plan for PIA

The Federal Cabinet has approved the privatization plan of Pakistan International Airlines (PIA). The new plan essentially allows for the sale of partial or full shares of the national flag carrier and the transfer of administrative control to the buyer, top sources informed ProPakistani. The Cabinet Committee on Privatization has also approved the transaction summary, which will allow stakeholders to proceed with the second phase of the privatization process. An expression of interest will be published in both local and international newspapers. The sale will proceed through three potential methods, with two conditions linked to the privatization requirements set by the International Monetary Fund.