According to information provided, investors in the aviation industry in Qatar, Abu Dhabi, and Saudi Arabia were approached and given a briefing on the privatization of PIA.
According to additional sources, investors received information about “profitable” investments in the international lines operated by FIA and PIA.
Since National Airline’s debts and losses were transferred to the withholding firm prior to privatization, all of them have been paid off.
According to the sources, every obstacle to the PIA’s privatization has been removed.
It is important to note that, as the government moves on with its privatization plan, up to three Gulf nations—the United Arab Emirates, Saudi Arabia, and Qatar—have expressed interest in purchasing the financially troubled Pakistan International Airlines (PIA), according to sources.
Previously, purchasers were asked to submit proposals by May 3 for the privatization of Pakistan International Airlines (PIA).
The Pakistani government intends to sell 51 percent of the national flag carrier’s shares; the remaining 49 percent will be owned by the government. The government’s goal is to privatize solely the PIA’s aviation department.
According to the officials, the business that purchases the 51 percent of the shares would continue to hold administrative authority over PIA.
