Pakistan’s national airline, Pakistan International Airlines (PIA), has been sold to a consortium led by Arif Habib for a whopping $1.35 billion, exceeding the government’s initial expectations of $1.2 billion. In a recent interview with Geo News, Adviser to the Prime Minister on Privatization, Muhammad Ali, expressed his satisfaction with the sale, calling it a “historic day” for Pakistan.
“We were expecting a price of $1.2 billion, but the sale has exceeded our expectations,” Ali said. “This is a positive development for Pakistan, and we are confident that the consortium will take the airline to new heights.”
The sale of PIA is part of the government’s efforts to privatize the country’s loss-making state-owned enterprises. The airline has been struggling financially for years, and the government had been seeking to sell it for several years.
The consortium, led by Arif Habib, has promised to invest in PIA and make it a profitable entity. The sale of the airline has also raised hopes that other state-owned enterprises will be privatized, leading to improved economic growth and development in Pakistan.
“We are confident that the sale of PIA will be a success, and we will see more privatization deals in the future,” Ali said. “This is a positive step towards making Pakistan a more attractive destination for foreign investors.”
The sale of PIA has also been welcomed by the International Monetary Fund (IMF), which has been pushing Pakistan to privatize its state-owned enterprises as part of the country’s economic reform program.
Pakistan’s Prime Minister, Shehbaz Sharif, has also congratulated the country on the successful sale of PIA, saying it is a “historic day” for Pakistan.
The sale of PIA is expected to generate significant revenue for the government, which will help to reduce the country’s fiscal deficit and improve its economic growth prospects.
In related news, the Pakistan Peoples Party (PPP) has announced the appointment of Ammar Makhan as its central vice president, a move seen as an effort to revitalize the party’s organizational structure.
Separately, a massive Christmas tree has been erected in Lahore’s Liberty Chowk, which is adorned with lights and decorations. The tree is 42 feet tall and is a popular tourist attraction during the holiday season.
In other news, a fire broke out in a nursing home in Philadelphia, leaving several people injured. The cause of the fire is still unknown, but an investigation is underway.
In a related development, the Pakistan government has announced that it will sell the country’s state-owned airlines’ assets, including its airfields, in a transparent and competitive bidding process.
The sale of PIA’s assets is expected to generate significant revenue for the government, which will help to reduce the country’s fiscal deficit and improve its economic growth prospects.
In a separate development, the Chief Justice of Pakistan has asked the government to clarify how it intends to proceed with the sale of state-owned enterprises without a clear policy framework.
The Chief Justice’s comments come as the government has announced plans to privatize several state-owned enterprises, including PIA, in an effort to improve the country’s economic growth prospects.
In a related development, the Iranian government has announced that it will not back down from its nuclear program, despite international pressure. The Iranian government has vowed to continue its nuclear program, which has been a point of contention between Iran and the international community.
The Iranian government’s stance has been welcomed by Pakistan, which has traditionally been a close ally of Iran. Pakistan’s Foreign Office has said that it will continue to support Iran’s right to pursue its nuclear program.
In a separate development, the Pakistan government has announced that it will not be selling its state-owned airlines’ assets, including its airfields, in a transparent and competitive bidding process.
The decision has been welcomed by the International Air Transport Association (IATA), which has expressed concerns about the sale of state-owned airlines’ assets in the past.
In a related development, the Pakistan government has announced that it will be holding a national conference on aviation in Islamabad next month. The conference will bring together stakeholders from the aviation industry, including airlines, airports, and government officials, to discuss the future of aviation in Pakistan.
The conference is expected to be a major event in the aviation industry, with several international delegates expected to attend. The
