Pakistan to Sell 75% Stake in PIA by October 2024 with $500M Investment Requirement

The Pakistani government has taken a significant step in its efforts to privatize Pakistan International Airlines (PIA), with final preparations for the sale of a 75% stake in the national carrier now complete. The government aims to conclude the sale by October 2024, marking a crucial milestone in the long-awaited privatization process.

Under the terms of the agreement, the successful buyer will be required to invest $500 million over the next three years to restructure PIA and enhance its financial stability. This investment is expected to play a pivotal role in revitalizing the struggling airline and positioning it for future growth. The move is seen as part of a broader strategy to improve Pakistan's state-owned enterprises and reduce financial burdens on the government.