ISLAMABAD: Prime Minister Shehbaz Sharif on Monday instructed authorities to accelerate the privatisation of power distribution (Discos) and generation companies (Gencos) to establish a competitive electricity market. He said privatisation is a sustainable solution to Pakistan’s longstanding energy challenges. Read More: PM directs expedited privatisation process for Discos, Gencos During a high-level meeting, the prime […]
privatisation
PIA privatisation expected in last week of December 2025
ISLAMABAD: The privatisation of Pakistan International Airlines (PIA) is expected to take place in the last week of December 2025, according to sources familiar with the process. Read More: PIA privatisation delayed again, expected in late December The first bid for PIA’s privatisation was placed at Rs 10 billion, but officials deemed it too low. Due […]
PM orders speedy, transparent PIA privatisation
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday directed authorities to expedite all phases of Pakistan International Airlines (PIA) privatisation, stressing complete transparency in the process. Chairing a meeting on the national flag carrier, the premier emphasised enhancing operational efficiency, increasing airworthy aircraft, and ensuring punctual flight departures. Officials briefed him on the privatisation plan, which […]
PIA flights face delays
KARACHI – Pakistan International Airlines (PIA) continues to struggle with flight delays as the airline attributes disruptions to a “strike” by the Society of Aircraft Engineers of Pakistan (SAEP). However, the SAEP has refuted the claim, insisting that engineers are merely adhering to safety and certification protocols required by aviation law. “The SAEP and its […]
Pakistan Links Economic Stability to Security: Aurangzeb
WASHINGTON — Finance Minister Muhammad Aurangzeb has said that controlling militancy is essential for Pakistan’s financial stability. Speaking at the end of his week-long visit to Washington for the IMF and World Bank meetings, he noted that investors and global lenders repeatedly raised concerns about Pakistan’s security situation and its link to economic recovery. Federal […]
UAE’s IHC to Acquire 85% Stake in Pakistan’s First Women Bank
ISLAMABAD – The United Arab Emirates (UAE) International Holding Company (IHC) has successfully finalised a deal to acquire 85% shares of First Women Bank Limited (FWBL) in Pakistan, sources told ARY News on Friday. FWBL, incorporated in 1989, is 82.64% owned by the Government of Pakistan. The acquisition was made for $14.6 million (around Rs […]
Alvarez & Marsal considers opening office in Pakistan to boost privatisation efforts
Global advisory firm Alvarez & Marsal is exploring the possibility of opening an office in Pakistan. The aim is to support the government’s push for privatisation and to attract foreign investment. This decision came after a meeting between Finance Minister Muhammad Aurangzeb and a delegation from the firm, led by Executive Peter Briggs. During the […]
Pakistan plans PIA sell-off by july, updates IMF on privatisation efforts
The Pakistani government has assured the IMF that it will privatize Pakistan International Airlines (PIA) by July 2025. Authorities are also considering selling five to seven other state-owned enterprises, including Zarai Taraqiati Bank Limited (ZTBL) and three power distribution companies. However, the fate of the Roosevelt Hotel in New York remains uncertain, especially after the […]
PIA – the rise, fall and decline of a national flag-carrier
Pakistan International Airlines, commonly known as PIA, is the national flag-carrier of the Islamic Republic of Pakistan. PIA was founded on October 23rd, 1946 as Orient Airways – a local private-owned airline, based in Calcutta (now Kolkata) in British India. Orient Airways was the first and the only pre-partition Muslim owned airline. Initial funding for […]