PIA privatisation expected to be completed by Oct 1, Senate body told

The Pakistan International Airline’s (PIA) privatisation process will not be extended beyond October 1, according to Privatisation Commission Secretary Usman Bajwa. The government is working to privatise loss-making state-owned enterprises as part of a deal with the International Monetary Fund (IMF) for a $3 billion bailout. The national carrier, PIA, is a top priority due to its significant financial losses. The government has finalized six companies for bidding on PIA, with a requirement for the winning bidder to invest Rs425 billion immediately. Despite delays in the process, the government is committed to completing the privatisation by October 1, 2024.