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Pakistan Receives Single Bid for PIA Stake in Privatization Push

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Pakistan’s government, in its bid to privatize Pakistan International Airlines (PIA), received only one bid from a shortlist of six potential bidders. Blue World City, a major real estate consortium with diversified interests, has emerged as the sole bidder for a 60% stake in PIA. This privatization aligns with Prime Minister Shehbaz Sharif‘s commitments to…

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Pakistan Finalizes PIA Privatization Auction for October 30 Amid Reforms

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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….