Re: So, what’s happening at PIA?
Thats what the government assumed when they privatized KESC and PTCL earlier last decade. The saudi investor group that bought KESC wanted out within months of buying in. And PTCL, well, Etisalat still owes the govt close to $1 billion, reason being that Etisalat got more than what it bargained for.
Internal investors could be gifted PIA shares much like other PML-N era privatizations in the 90s…and the govt will get some cash immediately…but I dont see profit flowing in any time soon. Any new management/ownership will have to get rid of the top heavy structure of PIA, which will be a tall order, specially with all the political appointments.