ISLAMABAD’: The Cabinet Committee on Privatization (CCOP) on Tuesday approved a fast-track plan to sell a majority stake in Pakistan International Airlines Corporation PIA the country’s flag carrier.
The committee, chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar, agreed to sell between 51% and 100% of the airline’s shares, along with handing over management control to private investors.
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Dar stressed that the move aims to improve the airline’s performance and reduce its financial strain on the government. The decision is part of broader efforts to reform loss-making state-owned enterprises.
