Pakistan seals plan to sell national carrier ahead of election
Dhaka, Feb. 5 -- Ahead of elections on February 8, Pakistan's caretaker administration is making binding plans for a new government to sell loss-making Pakistan International Airlines, said reports citing the country's minister in charge of the process and other officials.
Pakistan, in deep economic crisis, agreed in June 2023, to overhaul loss-making state-owned enterprises under a deal with the International Monetary Fund (IMF) for a USD 3 billion bailout. The government decided to privatise PIA just weeks after signing the IMF agreement.
The caretaker administration, which took office in August 2023, to oversee the February 8 election, was empowered by the outgoing parliament to take any steps needed to meet the budgetary targets agr...
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