PIA shares record 600pc raise
- By Salah Uddin -
- Mar 22, 2024
KARACHI: Following reforms in the Pakistan International Airlines (PIA), the shares of the national flag carrier recorded 600 per cent surge during trading at the Pakistan Stock Exchange.
In the last 10 days, the PIA shares jumped to Rs27 from Rs4.50. According to market experts, the share price is going up due to the confidence of investors after the reform process in the PIA.
With a share value of Rs27, the PIA share has become the 17th biggest trading share in the PSX.
Yesterday, Finance Minister Muhammad Aurangzeb said that the government wants to complete the privatisation process of cash-strapped Pakistan International Airline (PIA) in June.
Read more: Cash-strapped PIA privatisation to be ‘completed in June’: finance minister
Federal Minister for Privatisation and Board of Investment Abdul Aleem Khan is working on the privatisation of the national flag carrier, he said during his appearance on ARY News show KHABAR with Meher Bukhari.
The finance minister expressed hope that the government will soon begin to receive bids for the PIA.
On reducing operational expenditure, Aurangzeb informed that the federal government will soon announce a decision regarding ministries devolved into provinces.