Business Desk 
Dec 06, 2024
The Supreme Court of Pakistan has lifted its previous order that blocked the privatisation of Pakistan International Airline (PIA). This decision allows the government to continue with the privatisation process, which had been halted earlier.
The case was heard by a six-judge bench headed by Justice Aminud Din. The additional attorney general (AAG) apprised the court that the government had initiated the privatisation process, but it was suspended given an earlier court order.
The AAG further stated that the ban on PIA's flights to Europe has been lifted.
PIA privatisation to improve financial health
Justice Amin commented that the second privatisation process might result in increased rates for the airlines.
Justice Mandokhel requested that the process must be transparent and carried out by the court with confidence. The AAG assured that an application had been filed with the court seeking permission for privatisation.
It is part of a larger drive by the court to improve the financial situation of PIA
The national carrier lost Rs360.39 billion in the last 17 years. The government believes that privatisation will streamline finances and put an end to the losing streak.
Earlier, the Supreme Court had ordered against PIA privatisation without its permission. The order was issued in April 2018 by a three-judge bench led by former Chief Justice Mian Saqib Nisar.
The court had also directed that former managing directors of PIA should not leave the country without informing the court.
The recent ruling allows the government to proceed with the PIA privatisation, provided the process is conducted transparently and in good faith.
