The Privatization Commission of Pakistan will take over the financial affairs of Pakistan International Airlines (PIA) from tomorrow, October 9. This is the first step in the process of privatizing the airline, which is expected to begin on a phased basis in the near future, says in media reports.
The Privatization Commission will be responsible for managing PIA’s finances, including its revenue, expenses, and investments. It will also be responsible for developing a privatization plan for the airline. The Aviation Division will continue to be responsible for PIA’s administrative affairs, such as its operations and staffing.
The privatization of PIA is part of the government’s efforts to reform the country’s economy and reduce its budget deficit.
PIA has been struggling financially for many years, and the government has been unable to provide it with the financial support it needs to operate profitably.
