By Admin 
Pakistan Airlines: Shahbaz Sharif’s government in Pakistan is going to sell the government airlines company PIA. For the company’s privatization, the Protection Commission Board has also approved the bidding of four companies. Three of these are connected to the cement industry, while there is a military firm. The bid will be installed in the fourth Tamarihi of this year.
Government will sell its stake in the company
The government is engaged in improving the government companies, raising money under the $ 7 billion International Monetary Fund program and facing cash crisis. In this sequence, PIA is trying to sell its 51-100 percent stake.
Let us know that the IMF had approved a 7 billion $ 7 billion aid package for Pakistan for three years last July. Its purpose is to improve the country’s economy, promote economic stability.
There was an attempt to sell last year too
The government of Pakistan tried to sell PIA last year as well, but the matter did not work. At that time the price of PIA was kept at 85.03 billion Pakistani rupees, including a loss of Rs 45 billion. However, it got a bid of only 10 billion rupees. In the last ten years, it is going to privatize a big government company in the country.
This time the bidding companies include Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures. Apart from this, military fertilizer company and Pakistani airline AirW. have also received approval to bid for the airline. Along with this, another bidding group is headed by the investment company Arif Habib Corp. This includes Fatima Fertilizer, The City School and Real Estate Company Lake City Holdings.
Pia is going through difficulties
Pia has been facing financial crisis for the past several years. The matter worsened when the company could not give November salary to 7000 employees in the year 2023. In 2020, the company received his first blow when the European Union questioned the PIA’s safety standard and banned its flights. This was badly affected by the company’s international operation, causing great loss to the company.
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