The International Monetary Fund (IMF) has praised Pakistan’s recent privatization efforts, highlighting the sale of a majority stake in Pakistan International Airlines (PIA) as a key step toward economic reform. Reports indicate that the government sold 75 percent of PIA to a private consortium for Rs 135 billion, equivalent to approximately 486 million US dollars. The consortium is led by businessman Arif Habib.
The IMF described the sale as a significant milestone, noting that it helps alleviate the financial burden caused by loss-making state-owned enterprises. PIA has relied heavily on government support for many years due to persistent operational losses. By introducing private ownership and management, the government aims to improve the airline’s efficiency, financial stability, and governance over the long term. The privatization is also expected to encourage further private investment in Pakistan’s economy.
The deal follows PIA’s resumption of certain international flight operations, which enhanced the airline’s performance outlook and made the investment more appealing to potential buyers. This privatization is part of Pakistan’s broader economic reform agenda under a 7 billion dollar Extended Fund Facility program with the IMF, designed to stabilize the economy, strengthen public finances, and improve governance across key sectors.
Authorities have indicated that additional state-owned enterprises may undergo restructuring or privatization in the future to increase efficiency, reduce losses, and promote sustainable economic growth. This information is provided for general awareness based on available reports, and readers are advised to consult official sources for complete and up-to-date details.
