Loss-making PIA on block: Pak moves to sell national carrier; previous bid failed

Pakistan will hold bidding on December 23 to sell its state-owned carrier, Pakistan International Airlines (PIA), state media reported on Wednesday.

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.