KARACHI: Pakistan's financial advisors have updated international investors on the privatization process of Pakistan International Airlines (PIA).

Investors from Qatar, Abu Dhabi, and Saudi Arabia received detailed briefings on the potential benefits of investing in PIA's privatization, particularly its lucrative international routes.

According to sources, all financial liabilities and debts of PIA have been settled, with the airline being transferred to a holding

The sources confirmed that all obstacles to PIA's privatization have now been removed.

Notably, interest in acquiring PIA has been expressed by three Gulf nations—United Arab Emirates, Saudi Arabia, and Qatar—as the Pakistani government accelerates its privatization efforts.

Previously, the government had called for privatization bids for PIA to be submitted by May 3.

Pakistan's government intends to privatize only PIA's aviation division, offering 51% of the airline's shares for sale, while retaining a 49% stake. The buyer of the majority share will also assume administrative control, officials noted.