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Business

Web Desk
Jul 22, 2024

PIA privatisation expedited; framework for asset and liability division prepared

The new company will also inherit liabilities, including Rs 15.63 billion in long-term financing, Rs 30 billion in aircraft leases, Rs 27.26 billion in employee salaries, and Rs 121 billion in trade and other payables.

Pakistan

Web Desk
May 21, 2024

Pakistan’s move to sell national airline a test case for privatising SOEs

Pakistan faces significant challenges, including a weak economy and political instability, which may deter potential investors, despite the SIFC’s efforts to streamline investment processes.

Business

Web Desk
Mar 26, 2024

PIA Board approves privatisation and restructuring plan

Pakistan International Airlines (PIA) BoD has given the green light to the privatisation and restructuring plan of the national carrier.

Business

Web Desk
Mar 26, 2024

PSX closing: KSE-100 index gains 381 points

The Pakistan Stock Exchange (PSX) experienced a bullish trading session on Tuesday, with its key index, the KSE-100, climbing by 381 points and closing near the 66,000 mark.

Pakistan

Web Desk
Jan 10, 2024

PC greenlights transaction framework for PIA’s stake sale

PIA’s total liabilities, estimated at Rs 825 billion, propose transferring around Rs 640 billion to a new holding company, covering the federal government’s debt and commercial bank debt.

Business

Web Desk
Nov 14, 2023

Pakistan aims for a $70 billion investment influx

Deputy Chairman of the Planning Commission and Special Assistant to the Caretaker Prime Minister, Dr Jehanzeb Khan, has highlighted the potential for a substantial investment of $70 billion in Pakistan.

Business

Web Desk
Nov 07, 2023

Pakistan seeks support from friendly nations amidst IMF talks

Pakistan has decided to seek support from friendly nations, including Saudi Arabia, to bridge the substantial external financing gap.

Business

Web Desk
Oct 26, 2023

PIA’s ongoing fuel crisis: 349 flights disrupted in two weeks

Pakistan International Airlines (PIA) has been compelled to cancel 349 flights in the past fortnight due to an acute fuel shortage, a situation that underscores the challenges faced by the financially struggling national carrier.

Business

Web Desk
Oct 23, 2023

PM Kakar demands timely updates on PIA privatisation

PM Kakar once again instructed the relevant authorities to expedite the privatisation process of Pakistan International Airlines (PIA).

Business

Web Desk
Oct 09, 2023

Caretaker PM urges faster privatisation of state-owned businesses facing losses

In a significant move, caretaker Prime Minister (PM) Anwaar-ul-Haq Kakar has instructed the relevant authorities to hasten the privatisation process of state-owned enterprises (SOEs) facing financial losses.