PIA privatization An important step toward revival |
THE privatization of Pakistan International Airlines (PIA) has reached a historic milestone, marking a decisive shift in Pakistan’s economic reform agenda.
Once a symbol of national pride and global connectivity, PIA gradually became burdened by chronic financial losses, weak governance, political interference and operational inefficiencies. After decades of failed reform attempts and mounting fiscal pressure, the government’s move toward privatization has emerged as a necessary and strategic decision rather than a sudden policy shift.
The breakthrough came through a transparent and competitive bidding process held in Islamabad and broadcast live to ensure public confidence. The Arif Habib–led consortium secured a 75 percent stake in PIA with a bid of Rs. 135 billion, significantly higher than the government’s reference price of Rs.........