Connect with us

Business

PIA privatization: Government will sell majority stakes in national airlines

Published

on

As the PIA privatization process draws to an end, the Privatization Commission will determine how many shares the government sells, according to Bilal Azhar Kayani, the Prime Minister’s Coordinator for Economy and Energy, during an appearance on the program “KHABAR.”

He claimed that the government was thinking of selling the national flag carrier for anywhere from 51% to 100% of its shares.
According to Kayani, the organization that purchases the majority of the shares will take over administrative authority of the PIA.

The leader of the Pakistan Muslim League-Nawaz (PML-N) claimed that multiple nations and international corporations have expressed interest in purchasing PIA, adding that the privatization process was moving along nicely.

He stated that although the affairs concerning the retired employees of PIA were transferred to the PIA Holding Company, this would not impede the retired employees’ pension payments.
Kayani stated that a policy pertaining to serving employees will be developed shortly and that the federal government was currently working to resolve the issues surrounding these individuals.

A day prior, all of the national airline’s losses and debts were transferred to the withholding business prior to its privatization, and as a result, the federal government paid off all of PIA’s obligations, debt, and arrears.

According to officials, the clearing of PIA’s balance statement has been communicated to the Pakistan Stock Exchange (PSX).

Additionally, by May 3, the government is inviting bids from potential purchasers for the privatization of Pakistan International Airlines.

Shares of the national flag carrier had an almost 650% increase in value during PSX trading after the PIA underwent reforms.

The price of PIA shares increased from Rs4.50 to Rs32 in recent weeks. The value of PIA’s shares increased recently from Rs27 to Rs32.

Market analysts claim that investors’ increased confidence following the PIA reform process is the reason for the share price increase.

Pakistan International Airlines rose to the 70th position among Pakistan’s shareholders with a share value of Rs32.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

E&P Companies Will Invest $5 Billion in Pakistan’s Petroleum Industry

Published

on

By

Over the next three years, local and foreign companies involved in Pakistan’s oil and gas exploration and production sector have shown a strong desire to invest more than $5 billion in the nation’s energy sector.

Recent changes to the Petroleum Policy and the implementation of an exclusive tight gas policy, which provide better incentives and a more investor-friendly regulatory framework, are credited with the increase in investor confidence.

These strategic changes are expected to boost domestic energy production, open up new avenues for growth, and draw large amounts of both domestic and foreign investment.

Continue Reading

Business

With inflation slowing, the SBP is anticipated to lower the policy rate for the eighth time in a row.

Published

on

By

Businesspeople anticipate another reduction in the policy rate when the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) releases the updated rate.

The interest rate for the upcoming two months will be announced by the central bank. It is still unclear if the rate will stay the same or be lowered to reflect stakeholder expectations.

According to experts, the policy rate will be lowered in order to further boost the nation’s economic sector.

Interest rates may be lowered for the seventh time in a row if the inflation rate declines significantly more than anticipated.

In its last six sessions, the MPC had cut the policy rate by 10 percent. In January 2025, it decreased the rate by one percent to 12pc.

12PC POLICY RATE

In January, the State Bank of Pakistan (SBP) announced cut in key policy rate by 100 basis points (bps) to 12 percent from 13pc in line with expectations of the business community.

The policy rate, which had been at 22 percent since June 2024, was slashed by 1,000 basis points to 12 percent.

The SBP governor said the decision was taken with careful consideration. “Although inflation is expected to decline next month (February), core inflation remains a pressing concern,” he stated.

Ahmed highlighted strong remittance inflows and robust export growth as key factors supporting the current account.

Continue Reading

Business

Bulls in the stock market are still going strong.

Published

on

By

As the bullish trend persisted on the Pakistan Stock Exchange (PSX) on Monday, the KSE-100 index soared beyond the 115,000 level.

The PSX continued its upward trend from the weekend, and the KSE-100 index gained 600 points, reaching 115,048 points in early trading.

The index closed at 114,398 points on Friday, up 685 points.

Continue Reading

Trending