Aaj TV English News - Pakistan https://english.aaj.tv/ Aaj TV English en-Us Copyright 2026 Thu, 23 Apr 2026 20:12:33 +0500 Thu, 23 Apr 2026 20:12:33 +0500 60 Govt forms PIA holding company in major step towards privatisation https://english.aaj.tv/news/30355518/govt-forms-pia-holding-company-in-major-step-towards-privatisation <p><strong>In what is being billed as a major step towards prvatisation, the government has approved the formation of the Pakistan International Airlines holding company.</strong></p> <p>The approval was given by the federa cabinet in a meeting on Wednesday.</p> <p>PIA’s chief executive officer will served as the head of the holding company for the time being, according to the cabinet decision.</p> <p>Prime Minister Shehbaz Sharif has called for the process of privatising the national flag carrier to be expedited. He also asked authorities to submit a plan regarding the outsourcing of airports in the country.</p> <p>A report in February, just before the country went to the polls, had indicated that the interim cabinet gave its approval on the recommendation of Pakistan’s privatisation commission, a body assigned to sell off all loss-making state-owned enterprises (SOEs).</p> <p>The restructuring plan had split PIA into two entities.</p> <p> <figure class='media sm:w-1/3 w-full media--right media--embed media--uneven'> <div class='media__item media__item--newskitlink '> <iframe class="nk-iframe" onload="setInterval(()=>{try{this.style.height=this.contentWindow.document.body.scrollHeight+'px';}catch{}}, 100)" width="100%" frameborder="0" scrolling="no" style="height:400px;position:relative" src="https://www.aajenglish.tv/news/card/30342457" sandbox="allow-same-origin allow-scripts allow-popups allow-modals allow-forms"></iframe></div> </figure></p> <p>One ‘clean’ one will be offered up for sale and the other will be parked in a holding company with legacy debt, which includes negative equity of Rs825 billion ($2.95 billion) in loans, creditors’ money and losses.</p> <p>The statement from the prime minister’s office said the plan which had been approved would “divide the PIA into two companies, TopCo and HoldCo”.</p> In what is being billed as a major step towards prvatisation, the government has approved the formation of the Pakistan International Airlines holding company.

The approval was given by the federa cabinet in a meeting on Wednesday.

PIA’s chief executive officer will served as the head of the holding company for the time being, according to the cabinet decision.

Prime Minister Shehbaz Sharif has called for the process of privatising the national flag carrier to be expedited. He also asked authorities to submit a plan regarding the outsourcing of airports in the country.

A report in February, just before the country went to the polls, had indicated that the interim cabinet gave its approval on the recommendation of Pakistan’s privatisation commission, a body assigned to sell off all loss-making state-owned enterprises (SOEs).

The restructuring plan had split PIA into two entities.

One ‘clean’ one will be offered up for sale and the other will be parked in a holding company with legacy debt, which includes negative equity of Rs825 billion ($2.95 billion) in loans, creditors’ money and losses.

The statement from the prime minister’s office said the plan which had been approved would “divide the PIA into two companies, TopCo and HoldCo”.

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