Pakistan’s caretaker government has less than three weeks to make decisions regarding the partial privatisation of PIA, Pakistan International Airlines, before the general election on February 8.
The government missed deadlines to facilitate the privatization process, including filing audited accounts and obtaining certificates of no objection from creditors.
There is still no decision on whether the airline will be sold to a foreign entity through negotiation or a public competitive process.
PIA’s current debt is significant, and the plan is to hive off a portion of it to make the airline more attractive to potential buyers. The question of which government ministry will take responsibility for the remaining debts is unresolved.
