Govt moves forward with PIA privatization

MG News | March 22, 2024 at 05:24 PM GMT+05:00

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March 22, 2024 (MLN): The government has officially initiated the privatization process of Pakistan International Airlines Corp (PSX: PIA), and has issued a gazette notification, according to sources within the Prime Minister's Office.

The notification outlines the transformation of the national airline into a government holding company.

To note, PIA has witnessed a relentless rally past its record highs.

Pakistan's loss-making airline has seen a bout of volatility in recent sessions. The stock price is up 2.37x this month, and a staggering 7.6x in the current fiscal year.

The rally has been sparked by the new government'a efforts to restructure and privatize it.

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