Pakistan set to broadcast tomorrow auction of loss-making national airline

ISLAMABAD: Pakistan is set to broadcast live the auction of its loss-making national airline tomorrow, Pakistani state media reported on Monday, a move authorities say is aimed at ensuring transparency. Pakistan will privatize 75 percent of the carrier, the Pakistan International Airlines (PIA), while retaining its name and branding, according to Prime Minister Shehbaz Sharif’s Office. The decision marks Islamabad’s most aggressive push in decades to reform the debt-ridden airline, which has accumulated more than $2.5 billion in losses and become a major burden on the national budget.

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