Pakistan Finalizes PIA Privatization Auction for October 30 Amid Reforms

The Pakistani government is set to hold the final auction for Pakistan International Airlines (PIA) on October 30, 2024, marking a significant step in its broader economic reform agenda. This privatization move, supported by the International Monetary Fund (IMF), aims to alleviate the national carrier’s financial struggles while addressing broader economic challenges through structural reforms. Six consortia, comprising both local and international companies, have pre-qualified to bid for a 60% equity stake in PIA.