International entities are interested in PIA and Pakistani
airports
Seven international entities have expressed interest in Pakistan's national
carrier and airports, as announced by the aviation ministry on Tuesday.
The ministry has not specified whether these entities are
companies or governmental bodies. Islamabad aims to sell Pakistan International
Airlines (PIA) and contract out operations for three of its airports to
mitigate losses and bolster foreign exchange reserves amid economic challenges,
including a balance of payment crisis in its $350 billion economy.
Pakistan
to outsource operations of three key airports to cut costs
Among the interested parties are investors from Germany, France,
Netherlands, Qatar, UAE, Malaysia, and Turkiye, alongside local groups.
The World Bank's International Finance Corporation (IFC) and EY
have been engaged as advisors for the outsourcing process and the airline deal,
respectively.
These initiatives are being fast-tracked ahead of Pakistan's
anticipated request for another bailout from the International Monetary Fund
(IMF) following the expiration of the current standby arrangement on April 11.
Source: Profit Pakistan