Pakistan’s economic collapse has reached a new low. The country is being forced to sell its national airline, Pakistan International Airlines (PIA), just to keep IMF money flowing.

Pakistan is set to auction its state-owned airline, PIA, on December 23rd as part of a crucial IMF program. This privatization aims to revive the struggling carrier, restore its global flight operations, and meet modern aviation standards. Prime Minister Sharif emphasized transparency in the bidding process, which, if successful, will be Pakistan’s first major privatization in two decades.

Pakistan International Airlines Pakistan will hold bidding on December 23 to sell its state-owned carrier, Pakistan International Airlines (PIA), state media reported on Wednesday.Also Read: PIA apologises for controversial ad featuring Eiffel Tower after brutal trolling The loss-making airline is being privatised as part of a $7 billion International Monetary Fund (IMF) program, which requires the federal government to reform or divest struggling state enterprises.

A previous attempt to offload PIA last year was scrapped after the government failed to receive a sufficiently attractive offer.Pakistan Sparks Controversy With Expired Relief Claims As India Rejects Airspace Allegation Strongly Prime Minister Shehbaz Sharif met with corporate entities and company representatives involved in the process, according to a press release shared by state broadcaster PTV News.

“PIA’s bidding will take place on December 23, which will be broadcast live on all media. We are ensuring transparency and merit in the privatisation process,” the statement quoted him as saying.

Sharif said the process was proceeding “smoothly” and argued that privatisation would help restore the airline’s “lost prestige,” align it with modern aviation requirements and facilitate the restoration of PIA’s global flight operations — a step he said was crucial for overseas Pakistanis. If completed, the transaction would mark Pakistan’s first major privatisation in nearly two decades.