Cash-strapped PIA soon to be privatised

Pakistan’s government has announced plans to privatize Pakistan International Airlines (PIA). The decision comes on the backdrop of Pakistan securing a $3 billion International Monetary Fund (IMF) bailout in June 2023. The bailout was sanctioned on the condition that the country would be fiscally disciplined, and hence the government has set up a committee to privatise various government assets. PIA is a part of such asset. The Cabinet Committee of Privatization, chaired by Pakistan Finance Minister Ishaq Dar announced the decision as a part of government’s efforts to generate foreign exchange reserve that can help its ailing economy. The downfall