The federal government will privatize Pakistan International Airlines (PIA) before signing a new deal with the International Monetary Fund (IMF), sources from the Privatization Commission told ProPakistani.
Sources confirmed that the decision to privatize PIA is being expedited and will adhere to all IMF terms and conditions.
They said the PIA sale is a prerequisite for a new IMF loan program and will be completed before authorities seek a bigger bailout with the Washington-based lender.
Sources mentioned that a Letter of Intent (LoI) for the privatization of PIA could be issued by June, paving the way for its completion till up to July 2024.
PIA now has a debt pile somewhere in the region of Rs. 700 billion. The airline owes as much as Rs. 270 billion to commercial banks.
Sources added that approximately 350 government entities, including PIA, the Federal Board of Revenue (FBR), and Pakistan State Oil (PSO), are also facing insolvency.
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Thanks to IMF for saving PIA
Mega thanks to IMF, for saving Pakistan from Pakistanis.
IMF
کاش کوئی ایسی ڈیل بھی کر لے کے جو تعلیمِ یافتہ کم از کم
ماسٹرز، phd
کئے ہوئے ہیں، ان کو ہم بیرون ملک سیٹل کر دیں گے۔
جو اس ملک میں رہ جائیں گے، ان پر
Imf، pakistan govt۔، america، police etc۔ etc۔
مل جُل کے حکومت کریں گے۔
Yar Bachelors KO bhi shamil kar lo
Very good decision please proceed quickly. & after this sell pak railway , Pakistan steel also, because these all dept in much lose..
Hw ABT selling ur properties ehaz Ahmed Saab. After all some of them must b going in losses as well .
Also sell Nepra companies of electricity their debt is too much
Seems PIA is in debts for almost one trillion rupees, how much actually does PIA worth?
The way they are opening a holding company and transferring debts out is going to be a mystery sale
یہ خود کُشی کون کرے گا ؟؟؟؟ نہ جہاز نہ سپیئرز لئے دے کر صرف انٹرنشینل روٹس بچتے ہیں وہ کوئی لے تو لئے ۔۔۔۔۔