The International Monetary Fund (IMF) has welcomed Pakistan’s recent push toward privatization, describing the sale of a majority stake in Pakistan International Airlines (PIA) as an important step forward. According to reports, the government sold a 75 percent share in PIA to a private consortium for Rs 135 billion, which is about 486 million US dollars. The group leading the purchase is headed by businessman Arif Habib.
The IMF said this move is a major milestone because it helps reduce the financial pressure caused by loss-making state-owned companies. For many years, PIA has depended heavily on government support due to ongoing losses. By bringing in private ownership and management, the government hopes the airline will become more efficient, financially stable, and better managed in the long run. The sale is also expected to encourage more private investment in Pakistan’s economy.
This privatization comes after PIA resumed some of its international flight operations, which improved the airline’s outlook and made the deal more attractive to investors. The move is part of Pakistan’s wider economic reform plan agreed with the IMF under a 7 billion dollar Extended Fund Facility program. These reforms are aimed at stabilizing the economy, improving governance, and strengthening public finances.
Pakistani authorities have also indicated that more state-owned enterprises may be restructured or privatized in the future. The goal is to improve efficiency, reduce losses, and support long-term and sustainable economic growth. This information is shared for general awareness and is based on available reports. The image mentioned is for reference only, and readers are advised to consult official sources for complete and updated details.
