Islamabad: Prime Minister Shehbaz Sharif has announced that the financial closing for Pakistan International Airlines (PIA) signifies a pivotal step towards the airline’s revitalization, highlighting Pakistan’s dedication to economic reform and attracting investment. The Prime Minister’s comments were made in a post on X, where he emphasized the importance of modernizing and strengthening PIA to restore investor confidence.

According to Radio Pakistan, the Prime Minister celebrated the successful completion of the first financial closing of PIA’s privatization transaction, which includes the transfer of management control to an investor consortium. This development is seen as a critical milestone for the national carrier, marking the start of a new chapter in its history.

Prime Minister Sharif acknowledged the efforts of Deputy Prime Minister Ishaq Dar, Field Marshal Syed Asim Munir, Adviser on Privatisation Muhammad Ali, Finance Minister Muhammad Aurangzeb, and the Privatisation Commission for their roles in achieving this landmark. He expressed optimism that the collective efforts will continue to drive economic reforms, create opportunities for citizens, and secure a prosperous future for the country.

In a separate statement, the Prime Minister highlighted that the financial closing sends a strong message to both domestic and international investors about Pakistan’s openness to business and its commitment to economic growth. He welcomed this historic achievement in the context of Pakistan’s privatization efforts and assured that the interests of PIA employees, passengers, and consumers will be safeguarded during the transition, ensuring uninterrupted airline operations.