The shares of the national flag carrier, Pakistan International Airlines (PIA), experienced a 600% increase in trading at the Pakistan Stock Exchange subsequent to changes at the airline.
The price of PIA shares increased from Rs4.50 to Rs27 over the past ten days. Market analysts claim that investors’ increased confidence following the PIA reform process is the reason for the share price increase.
The PIA share is now the 17th largest traded share on the PSX, with a share value of Rs27.
The government hopes to finish the cash-strapped Pakistan International Airline (PIA) privatization process in June, according to remarks made by Finance Minister Muhammad Aurangzeb yesterday.
During his interview on the ARY News program KHABAR with Meher Bukhari, Federal Minister for Privatization and Board of Investment Abdul Aleem Khan stated that he is working on the privatization of the national flag carrier.
The minister of finance conveyed optimism that the government will shortly start getting bids for the PIA.
Regarding cutting operational costs, Aurangzeb said the federal government will make an announcement shortly about a decision involving ministries that have been transferred to the provinces.
