The Government of Pakistan, led by Prime Minister Shehbaz Sharif, has started negotiations for the privatization of national carrier Pakistan International Airlines (PIA) with a delegation of state-owned companies from Saudi Arabia, led by Foreign Minister Faisal bin Farhan Al Saud. The objective is to sell a majority share of the airline to Arab shareholders.

This was reported by various Pakistani national media, according to which the Special Investment Facilitation Council, a body controlled by Islamabad's foreign ministry, "invited" Saudi Arabia to collaborate in the privatization of Pakistan International Airlines, airports and other state services", including various companies majority-owned by the state.

The Pakistani government wants to privatize its state-owned airline due to heavy economic losses. At the beginning of April, the Sharif executive formally asked for expressions of interest to acquire 51-100% of the airline's share capital, therefore ceding control of the management of the national carrier. Interested parties have until May 3 to submit their proposals.

On the same topic, see also the article published by AVIONEWS.