Business Desk 
Dec 22, 2024
Amid the Pakistan International Airlines (PIA) juggling around sole Rs1 billion deal to bigger and better deals, Federal Minister for Privatisation Abdul Aleem Khan announced on Saturday that the PIA privatisation would proceed without bearing liabilities.
“Under the new terms, PIA’s liabilities and old dues will be removed, ensuring that the airline is privatised without any financial baggage,” Khan said.
Paving for smooth and easier privatisation, this feasibility is reportedly prompted by the International Monetary Fund (IMF) agreeing to drop the 8% general sales tax on the purchase of new aircraft and shift PIA's losses to a holding company.
This development follows the government's announcement that it received bigger and better bids for a major stake takeover.
“Various issues impeding the privatisation of PIA have been resolved, and the remaining steps will be finalised soon,” the privatisation minister said.
Besides disclosing positive progress in the PIA privatisation which has been at a standstill for months, he also highlighted the government’s commitment to shoving away the hindrances PIA privatisation was faced with.
The development is expected to catalyse the whole privatisation process while beckoning potential buyers towards PIA as being a more attractive and lucrative investment opportunity.
