Pakistan’s national carrier, Pakistan International Airlines (PIA), has been sold to the Arif Habib Consortium for a staggering 13.5 trillion rupees. The sale is seen as a significant milestone in the country’s economic recovery, with Minister of Defense Khawaja Muhammad Asif stating that it boosts investor confidence in the national economy.
Asif, in a statement, said that the sale of PIA through privatization would save the government from massive losses, estimated to be in trillions of rupees, and expedite the economic recovery process. The minister further added that the country’s economy has seen a remarkable turnaround, from a mere 10 billion rupees bid four years ago to the current 13.5 trillion rupees.
Asif also praised the National Privatization Commission for facilitating the transaction, saying that it was a significant success for the commission and a testament to the hard work of the civil aviation authorities in removing restrictions on the airline.
The sale of PIA is a significant step towards the country’s economic growth, with the airline’s new owners expected to invest heavily in modernizing the airline’s fleet and infrastructure.
The development comes as the country’s economy is showing signs of recovery, with the government’s efforts to improve the business environment and attract foreign investment starting to bear fruit. The sale of PIA is a significant milestone in this process, and a testament to the government’s commitment to economic growth and development.
As the country moves forward, it is expected that the sale of PIA will have a positive impact on the economy, with the airline’s new owners expected to create jobs and stimulate economic growth in the country.
The sale of PIA is also a significant step towards the country’s economic transformation, with the government’s efforts to privatize state-owned enterprises expected to continue in the coming years.
In a related development, the government has also announced plans to establish a new aviation authority, which will oversee the development of the country’s aviation sector and ensure that it is run efficiently and effectively.
The sale of PIA is a significant milestone in the country’s economic history, and a testament to the government’s commitment to economic growth and development. With the country’s economy showing signs of recovery, it is expected that the sale of PIA will have a positive impact on the economy and stimulate economic growth in the country.
