Pakistan has announced plans to privatize its state-owned Pakistan International Airlines (PIA) amid mounting debt and IMF loan conditions. Prime Minister Shehbaz Sharif confirmed that an auction for the airline’s sale will be held on December 23 and broadcast live across national media. The government intends to sell between 51% and 100% of PIA’s shares to reform loss-making state enterprises and meet the terms of a $7 billion IMF bailout. Four consortiums—Lucky Cement, Arif Habib Corporation, Fauji Fertilizer, and Air Blue—have been shortlisted to participate in the bidding. Sharif emphasized transparency and merit in the privatization process, expressing hope that PIA will regain its former prestige and operational efficiency. The move marks Pakistan’s largest privatization effort in nearly two decades. A previous sale attempt failed after a $36 million offer fell far below the $305 million reserve price. The government aims to complete the process swiftly to stabilize the aviation sector and reduce fiscal pressure.