Here’s a rewritten version of the article, suitable for a blog post, focusing on clarity and engagement:
**Federal Govt Approves PIA Privatization**
The Pakistani government has greenlit the privatization of Pakistan International Airlines (PIA), with plans to sell off between 51% and 100% of its shares. The decision, announced on Tuesday, aims to relieve the financial strain of the airline on the national budget.
In a meeting of the Cabinet Committee on Privatization, chaired by Deputy Prime Minister Ishaq Dar, the move was finalized. Dar emphasized that privatization will allow PIA to reach its full potential and is in the nation’s best interest for the airline’s long-term health. Along with the sale, administrative control of PIA will also be transferred to the new owner(s).
This isn’t the first attempt to privatize the airline. Earlier, on March 19th, the Privatization Commission Board approved a transaction structure. The plan offers flexibility, allowing for the sale of a majority stake (51%) up to the entirety of the airline (100%), including management control.
The Ministry of Privatization confirmed the board’s recommendation to proceed with this plan.
Sources report keen interest from several groups, including Arif Habib Group, Taba Group, and YB Holdings. Representatives from these organizations have reportedly met in Islamabad to discuss potential acquisition plans.