The privatization process of Pakistan International Airlines (PIA) has once again gained momentum, with three key domestic business groups expressing interest in buying the national flag carrier.
According to sources, meetings have been held with representatives of three prominent local companies, during which they were briefed on the potential acquisition.
Among the interested parties, Mian Mansha’s Nishat Group has shown particular interest for purchasing PIA. Additionally, Arif Habib Group and YB Holdings (Taba Group) have also expressed interest in the acquisition.
The meetings of these three groups with the authorities in Islamabad for the purchase of PIA have intensified. Sources say that the three companies want to buy PIA on their own terms.
One of the key conditions set by these groups is that the government must assume PIA’s outstanding liabilities, which include dues owed to the Federal Board of Revenue (FBR), Pakistan State Oil (PSO), and the Civil Aviation Authority (CAA) amounting to Rs. 152 billion.
Sources further reveal that the International Monetary Fund (IMF) has given the government a deadline until July to complete PIA’s privatization.
