Karachi: Pakistan’s financial advisers have briefed overseas investors about Pakistan Overseas Airlines (PIA) privatisation.
According to information, aviation investors from Qatar, Abu Dhabi, and Saudi Arabia were approached, and a briefing on PIA privatization was also sent to them.
According to sources, investors were informed of ‘profitable’ investment opportunities in the FIA and PIA foreign lines.
National Airline’s financial losses and obligations have been cleared since they were transferred to the withholding firm prior to privatization.
According to the sources, all obstacles to the PIA’s privatization have been overcome.
It is worth noting that three Gulf nations, including the United Arab Emirates, Saudi Arabia, and Qatar, have expressed an interest in purchasing the cash-strapped Pakistan International Airlines (PIA) as the government moves forward with its privatization plans, according to sources.
Previously, proposals for the privatization of Pakistan International Airlines (PIA) were solicited from bidders by May 3.
The Pakistani government only intends to privatize the PIA’s aviation section and sell 51 percent of the national flag carrier, with the government owning the other 49 percent.
According to the officials, PIA’s administrative control will also continue with the business that purchased the 51 percent shares.
Maria Ghanchi