Pakistan PM calls PIA privatization ‘vote of confidence’ as government pushes reforms

KARACHI: Prime Minister Shehbaz Sharif said on Tuesday the privatization of state-owned Pakistan International Airlines marked a “vote of confidence” in the country’s economy, as the government presses ahead with structural reforms aimed at easing pressure on public finances and attracting investment. The sale of the loss-making national carrier by a Pakistani consortium, which secured a 75 percent stake for Rs135 billion ($482 million), follows two previous attempts to privatize PIA.

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