PM Shehbaz Sharif urges Privatization Ministry to finalize PIA sell-off

News Image

By MG News | March 06, 2024 at 10:28 PM GMT+05:00

0:00

March 06, 2024 (MLN): The newly elected Prime Minister Shehbaz Sharif has directed the Privatization Ministry to present the final schedule of the implementation of the privatization of the Pakistan International Airlines Corp (PSX: PIAA).

He was presiding over a high-level meeting regarding the privatization of PIA and the restructuring of the Federal Board of Revenue in Islamabad today.

The Prime Minister directed to ensure transparency at all stages in the privatization process of National Airline and clarified that carelessness will not be tolerated in this regard.

The so far progress of the privatization of PIA and upcoming steps were reviewed in the meeting.

For several years, PIA has been grappling with losses, with its cumulative losses reaching Rs713 billion as of June last year.  According to the airline's CEO, losses in 2023 are likely to be Rs112bn.

To recall, the federal cabinet approved the restructuring of the national carrier on February 06, 2024, based on the recommendation of the Privatization Commission.

Taking into account international examples, a financial restructuring plan was devised according to which PIA will be divided into two companies, TopCo and HoldCo.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,175.00 108,430.00
105,440.00
2425.00
2.29%
BRENT CRUDE 67.69 68.10
66.94
0.58
0.86%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.15 110.00
108.25
1.65
1.53%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.04 66.43
65.23
0.59
0.90%
SUGAR #11 WORLD 15.68 15.97
15.58
-0.02
-0.13%

Chart of the Day


Latest News
July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes


July 02, 2025 at 05:05 PM GMT+05:00

PSX in FY25: From Oof to Boom


July 02, 2025 at 05:01 PM GMT+05:00

Gold price in Pakistan falls Rs600 per tola


July 02, 2025 at 04:35 PM GMT+05:00

Oil gains slightly as market eyes Iran, OPEC+ moves


July 02, 2025 at 04:02 PM GMT+05:00

PSX Closing Bell: Record Breaker



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg