Pakistan International Airlines (PIA) might soon be sold to a foreign government after the Privatisation Commission turned down a Rs10 billion offer from the Blue World Consortium through the Special Investment Facilitation Council (SIFC). The Pakistani government aims to reform state-owned enterprises and raise funds as part of a $7 billion International Monetary Fund (IMF) program.
The plan involves selling a 51-100% stake in PIA to bring in the necessary capital and help the struggling airline recover. Current reports suggest that this sale may happen under a government-to-government (G2G) agreement, with Qatar and Abu Dhabi emerging as potential buyers. The SIFC is expected to officially call for expressions of interest from foreign investors by November 30.
This privatization move is part of a broader effort to revive PIA and reduce the financial strain on Pakistan’s economy. By attracting foreign investment, the government hopes to introduce more stability and efficiency to PIA, ultimately benefiting the national airline and helping it compete on a global level.
