Cabinet Privatization Committee Accelerates Privatization Process of PIA, Approves Sale of 51% Shares

Islamabad: The Cabinet’s Privatization Committee has directed to expedite the privatization process of Pakistan International Airlines (PIA) and decided that 51% of the airline’s shares will be sold.

The meeting, chaired by Deputy Prime Minister Ishaq Dar, reviewed matters related to PIA’s privatization. Sources reported that the committee instructed to speed up the privatization process and agreed on the sale of 51% shares of the national carrier.

The committee also recommended granting tax exemptions for the purchase or leasing of new aircraft, including sales tax exemptions for the buyer company on aircraft leases or purchases. A briefing provided to the committee revealed that the IMF has not raised any objections to these exemptions.

This decision aims to improve the financial health of the national airline and bring in necessary reforms to enhance its efficiency.