Govt to complete PIA’s privatisation within 3 months: Aleem Khan

Privatisation and Investment Minister Abdul Aleem Khan on Thursday said that the government would complete all the steps to privatise Pakistan International Airlines (PIA) during the next three months. As part of reforms urged by the International Monetary Fund (IMF), the Privatisation Commission said in April 2024 that it was putting on the block a stake ranging from 51 per cent to 100pc of the national carrier. The government’s failed first attempt to privatise PIA cost the national exchequer $4.3 million, the National Assembly Standing Committee on Privatisation was informed on February 26. The lack of interest shown by the buyers during the first round of privatisation was due to multiple reasons, including the 18pc general sales tax on the purchase of new aircraft and the national carrier’s liabilities, the committee was informed.