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Articles for tag: DRIVE, hails, IMF, landmark, Pakistans, PIA, privatization, reform

January 11, 2026

News Desk

IMF hails PIA privatization as ‘landmark’ in Pakistan’s reform drive

The representational image shows a PIA plane taking off. — PIA/Archive The IMF says the privatization is in line with the core EFF commitment of $7 billion. Arif Habib-led consortium buys 75% stake for Rs 135 billion. Losses of state-owned enterprises reached Rs 122.9 billion in FY2024-25, according to cabinet data. KARACHI: The International Monetary Fund (IMF) has welcomed the privatization of Pakistan International Airlines (PIA), describing the sale as a milestone in Pakistan’s effort to reduce state involvement in commercial sectors, The News he said, citing Arab News. In a statement provided to Arab News on Saturday, Mahir Binici,

December 28, 2025

News Desk

PIA privatization reflects government’s seriousness to shrink commercial footprint: experts

A PIA plane is pictured mid-flight. — AFP/File KARACHI: Experts have hailed the delayed privatization of Pakistan International Airlines (PIA) saying the move sends a strong signal to investors that the government is serious about shrinking its commercial footprint and tackling inefficiencies that have drained public resources for years. The News reported on Wednesday. “The government will have to make sustained efforts to get out of business,” Uzair Younus, a Washington-based economic analyst, said in comments to the report. He described the PIA transaction as a turning point, adding that other sectors, particularly energy, should follow. “Privatization and deregulation of

December 26, 2025

News Desk

PIA privatization crossed the 172 thousand PSX mark

The KSE-100 Index posted a solid gain of +0.58% on a weekly basis, ending the session on a positive note amid strong investor sentiment. The main catalyst was the landmark privatization of Pakistan International Airlines (PIA), completed at Rs 135 billion (about US$480 million), marking one of the largest and most significant privatization deals in Pakistan’s history. The successful auction, won by the Arif Habib-led consortium for a 75% stake, marks a major step towards reducing the government’s burden from loss-making state-owned enterprises and boosting private sector confidence. Market Snapshot – December 26, 2025 Unlock today’s market moves and stay

December 26, 2025

News Desk

Fauji Fertilizer joins Arif Habib Consortium in PIA privatization deal

View of Pakistan International Airlines (PIA) passenger plane. — APP/File The consortium plans to increase operational aircraft from 18 to 62. Rs 125 billion will be invested in the first year to upgrade land businesses. The new owner is expected to take over in April, subject to approvals. Arif Habib Consortium has announced that Fauji Fertilizer Company Limited has joined its consortium which acquired 75% stake in Pakistan International Airlines with the highest bid of Rs 135 billion in an auction held for the national carrier’s privatization process. The joint venture, in its statement issued on Thursday, said the partnership

December 24, 2025

News Desk

PIA privatization reflects govt’s resolve to overhaul aviation sector: DG CAA

A representational image of the PIA plane. — APP/File Pakistan Civil Aviation Authority (PCAA) Director General Nadir Shafi Dar said on Tuesday that the successful privatization of Pakistan International Airlines (PIA) was a clear demonstration of the government’s determination to transform the country’s aviation sector. In a statement, Dar credited Defense Minister Khawaja Asif and Defense Minister Lt. Gen. Muhammad Ali for providing critical support that allowed the PCAA to make key reforms, leading to the lifting of air restrictions imposed by the European Commission and the United Kingdom. He said the removal of these restrictions was instrumental in the

December 17, 2025

News Desk

Bidders ‘seek daily records’ ahead of auction as PIA privatization enters take-off phase

A Pakistan International Airlines (PIA) plane at Allama Iqbal International Airport in Lahore, Pakistan, January 29, 2024. — Reuters The representatives of the joint ventures met the CEO of PIA on Saturday. Bidders seek daily records from airline, commission. Retirement pensions are exempt from purchasers’ obligations. KARACHI: Ahead of the December 23 auction of Pakistan International Airlines (PIA), all four joint ventures have sought daily records from the national carrier’s management and the Privatization Commission, sources said Geo News on Tuesday. The privatization phase of the national airline has entered its final phase, the sources said, adding that officials of

October 30, 2025

News Desk

Privatization of PIA will be completed by December, the Senate committee said

Crew members disembark from a Pakistan International Airways (PIA) flight at Kabul airport, Afghanistan, September 13, 2021. — AFP The due diligence process is nearing completion, officials say. Privatization to follow the set schedule, ensures supply. Afanullah-led committee reviews progress on PIA sale. ISLAMABAD: The Senate Standing Committee on Privatization, chaired by Senator Afnanullah, was briefed on the ongoing privatization process of the national carrier during its meeting in Islamabad. Officials of the Privatization Commission informed the committee that the process to privatize Pakistan International Airlines (PIA) is underway and expected to be completed by December this year. Committee representatives

October 16, 2025

News Desk

FinMin Aurangzeb briefs Saudi counterpart on PIA, airport privatization

Finance Minister Muhammad Aurangzeb (right) meets with his Saudi counterpart Mohammed Al-Jadaan in Washington, DC on October 16, 2025. — X/@Financegovpk Finance czar meets Saudi Mohammed Al Jaddan in Washington. Both sides are looking at growing trade and investment relations. Aurangzeb seeks support from Saudi Arabia for infrastructure development. Federal Finance and Revenue Minister Muhammad Aurangzeb met his Saudi counterpart Mohammed Al-Jadaan in Washington and briefed him on the privatization of Pakistan International Airlines (PIA) and key airports, the finance ministry said in a statement on Thursday. The finance ministry said the meeting between Aurangzeb and his Saudi counterpart took

October 7, 2025

News Desk

PIA privatization enters the final stage, says Aurangzeb

Finance Minister Muhammad Aurangzeb has announced that the privatization of Pakistani International Airlines has entered its final phase, while the government is also actively considering the external assignment of Islamabad’s international airport and the privatization of energy distribution companies. Aurangzeb made observations during a meeting on Tuesday with a delegation led by the founder and chief executive of Acumen Jacqueline Novogratz. The meeting focused on investment opportunities, climate durability and ongoing economic reforms in Pakistan. In a formal statement, the Ministry of Finance stated that the minister informed the delegation on the government’s agenda and the efforts to stabilize the

September 2, 2025

News Desk

PIA privatization is possible by November of this year, the Senate Standing Committee said

A Pakistani International Air Force can see in this ruthless image. -App/file Four businesses participate in the race and two fail to meet the standards. The Senate Committee is considering progress on PIA, Discos, Gencos, PMDC. Senators raise concern about PIA’s debt and energy bid. Islamabad: The Senate Committee on privatization has been informed of the possibility of privatizing Pakistani International Airlines (PIA) by November 2025, The news reported on Tuesday. The secretary of the Ministry of Privatization informed the Commission that there are four companies participating and should set up consortia with established airlines for the operation of the

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