Privatization of loss-making state-owned companies would be a logical step forward for any administration that assumes control of the Pakistan government after the elections.
Pakistan International Airlines (PIA), may be sold after the upcoming general elections on February 8. PIA has been facing financial difficulties for more than two decades, a report revealed.
The present caretaker administration is engaged in binding plans to sell the state-owned PIA, according to the report, citing the minister in charge of the process and other officials.
In the past, the government shied away from embarking on any such reforms, but the ongoing economic crisis has forced the country’s political leadership to overhaul loss-making state-owned enterprises under a deal with the International Monetary Fund (IMF)for a $3 billion bailout.
The government decided to privatize PIA just weeks after signing the agreement with the IMF.
