After Pakistan International Airlines (PIA) underwent a restructuring process, there was a significant increase in the value of its shares.
In fact, the shares of the national airline surged by an impressive 600% during trading at the Pakistan Stock Exchange (PSX).
In just a span of 10 days, the price of PIA’s shares jumped remarkably, moving up from Rs4.50 to Rs27. This sudden rise in share value is largely credited to the increased confidence investors have shown in PIA following its restructuring efforts.
With the current share price standing at Rs27, PIA’s shares have now secured a position as the 17th most traded stock based on trading volume at the PSX.
The Finance Minister of Pakistan, Muhammad Aurangzeb, recently made an announcement regarding the government’s plan to finalize the privatization process of PIA by June.
PIA has been grappling with financial difficulties, and this move aims to bring in private sector involvement to improve its operational and financial performance.
Abdul Aleem Khan, who serves as the Federal Minister for Privatisation and Board of Investment, is playing a crucial role in spearheading this privatization initiative.
The Finance Minister has expressed optimism and expects that the government will soon start receiving bids from potential investors interested in acquiring PIA.
