Despite a substantial loan from the Asian Development Bank (ADB) aimed at bolstering reforms, the cumulative debt of PSEs has soared to PKR 1.7 trillion, with an additional borrowing exceeding Rs43 billion in the fiscal year 2024.
The long-awaited privatization of Pakistan International Airlines (PIA) is expected to take place in early August 2024, with six shortlisted companies seeking detailed information about the airline and requesting time until July to review its financial issues.
The announcement came a couple of weeks after Pakistan extended the date for submitting expressions of interest. A total of eight companies and consortiums had expressed an interest.
Following a recent meeting, the EU found no compelling reasons to revise its existing list of prohibited air carriers operating within the Union, which includes Pakistani airlines.
The imposition of the Essential Services Act, mandated by the Ministry of Interior, is effective for a duration of six months, according to official notification.
Following a thorough examination by the flight crew, the aircraft was ultimately cleared for departure to Islamabad. The PIA spokesperson confirmed the in-flight smoke detection and the resulting delay in departure.
The parents of the deceased child, overwhelmed by shock and disbelief, fainted upon learning that their son's remains had been inadvertently left behind at Islamabad's airport, a realisation that struck with devastating force upon their arrival at Skardu airport.
According to a press release issued by the Ministry of Privatisation on Sunday, the restructuring scheme was approved on May 3 for the transfer of non-core assets and liabilities of PIA to PIA Holding Company Limited.
Ahead of the second phase of polling, an aircraft-shaped suspicious balloon, having the logo of PIA (Pakistan International Airlines) written on it, was recovered in Jammu and Kashmir's Samba district on Thursday, police sources informed.
Finance Minister Muhammad Aurangzeb said on Sunday that the privatization of Pakistan International Airlines (PIA) is expected by the end of June or early July, with Islamabad airport potentially following suit shortly after, Dawn reported.
The federal government is contemplating selling the majority shares of Pakistan International Airlines (PIA), ARY News reported, citing a government official.