The Pakistan International Airlines (PIA) Board of Directors, has approved the government's proposal for the privatization of the national flag carrier.

After a comprehensive four-hour session, the newly constituted PIA Board gave the green light for privatization, complying with Securities and Exchange Commission of Pakistan (SECP) regulations, which necessitate board approval for such decisions. Discussions during the meeting also encompassed suggestions regarding the fate of

Recommendations were made to retire employees with only four years of service remaining, alongside proposals for voluntary retirement prior to the PIA's privatization.

The meeting received a briefing on the company's report from financial adviser Ernest Young concerning the privatization process.

It's noteworthy that the PIA Board had remained inactive since October 2023, with the federal cabinet recently approving the formation of the new PIA Board of Directors.

Meanwhile, the government has initiated steps to delegate operations and management of Karachi, Islamabad, and Lahore airports, aiming to bolster foreign exchange earnings in support of the economy.