Pakistan sells loss-making PIA for Rs 135 billion after competitive bidding

Pakistan has sold its national airline, PIA. The privatization process concluded with a sale price of Rs 135 billion. A consortium led by Arif Habib emerged as the highest bidder. This marks a significant transaction for Pakistan. The government aimed for a transparent sale. PIA's past mismanagement led to this decision. The sale proceeds will be reinvested in the airline.