ISLAMABAD: A meeting of the Cabinet Committee on Privatization, chaired by Deputy Prime Minister Ishaq Dar, has approved an accelerated plan to privatize Pakistan International Airlines Corporation Limited (PIACL).
The committee agreed on divesting 51 to 100 percent of the airline’s share capital, coupled with management control. This decision marks a significant move towards restructuring the national carrier.
Ishaq Dar highlighted the government’s commitment to privatizing PIACL as a strategy to unlock the airline’s potential and reduce the financial strain on the national exchequer, according to a statement from Pakistan Television.
The meeting underscored the government’s focus on privatization as a means to enhance efficiency and financial stability within state-owned enterprises.