Islamabad — The federal government has expressed satisfaction over the sale of Pakistan International Airlines (PIA), describing the move as one carrying strong symbolic value as Pakistan pushes ahead with long-delayed economic and structural reforms.
Defence Minister Khawaja Asif said the privatisation of the national flag carrier should not be viewed purely through a financial lens, but rather as a clear signal of the government’s seriousness in addressing loss-making state-owned enterprises that have burdened the national exchequer for decades.
Speaking during a televised programme, Asif termed the PIA transaction the largest privatisation deal in nearly 20 years, noting that previous divestments, including that of the First Women Bank, were far smaller in scale and impact. He maintained that the successful completion of the PIA sale sends an important message to both domestic and international investors about Pakistan’s reform trajectory.
The defence minister acknowledged that PIA, once considered a pride of the nation, had suffered from chronic mismanagement, mounting losses and operational inefficiencies over the years. He said successive governments struggled to turn the airline around, making privatisation an unavoidable step.
According to Asif, the sale represents a psychological and policy breakthrough, demonstrating that the government is willing to take difficult decisions to stabilise the economy. He added that the move aligns with broader reforms being undertaken under Pakistan’s economic programme, including commitments linked to international lenders.
He also pointed to recent improvements in the airline’s operations, including the resumption of flights to certain European destinations, and expressed hope that under new ownership, PIA would be able to expand its fleet, improve service quality and regain its lost standing in the global aviation market.
However, analysts caution that the real success of the privatisation will be judged by the airline’s future performance rather than the sale itself. They stress that sustainable improvement will depend on professional management, financial discipline and operational reforms.
For now, the government views the PIA sale as a landmark moment, one that could pave the way for further privatisation of struggling public sector entities and help ease pressure on public finances.
This story has been reported by PakTribune. All rights reserved.