Pakistan Aims to Sell National Airline Before Election
ISLAMABAD (Reuters) - Pakistan will try to privatize its national airline before general elections due this year, privatization minister Daniyal Aziz said, as the ruling party seeks to restart sales of state-run businesses.
Pakistan International Airlines (PIA), hemorrhaging money and losing market share to Gulf-based rivals such as Etihad and Emirates, has been hit by management turmoil in recent years and a 2016 plane crash that led to 47 deaths.
The privatization of loss-making entities that were draining the exchequer was a key priority for the Pakistan Muslim League-Nawaz (PML-N) party when it swept to power in 2013.
PIA was among 68 state-owned companies earmaked for privatization in return for a $6.7 billion International Monetary Fund package that helped Pakistan to stave off a default in 2013.