International investors express interest in Pakistan’s PIA, airports

ISLAMABAD : Seven global investors have expressed hobby in Pakistan’s nationwide flag carrier and airports which the South Asian nation has place up for sale, the aviation ministry mentioned on Tuesday.

Islamabad plans to promote the Pakistan Global Airline (PIA) and outsource three of its airports in a expose to stem losses and generate international commerce reserves at a time when the nation’s $350 billion economic system faces a steadiness of cost crisis.

An adviser for the deal told Pakistan’s ministry of defence production and aviation that “seven global investors along with Germany, France, Netherlands, Qatar, UAE, Malaysia and Turkiye have proven their hobby” besides native groups, the assertion mentioned.

The ministry did now not give an explanation for whether the investors are companies or governments.

Islamabad has engaged the World Monetary institution’s Global Finance Company (IFC) as an e-book for the outsourcing job, and EY for the airline deal.

The bustle to expedite the sales comes before Pakistan searching for but another IMF bailout after a most well liked standby association expires on April 11.