According to ARY News, Pakistan International Airlines (PIA) is set to restart flights to the United States after a seven-year hiatus, representing a major advancement for the nation's aviation industry.
An agreement has been reached with the US Federal Aviation Administration (FAA) to resolve outstanding financial commitments.
DG CAA Nadir Shafi Dar stated that payments to the FAA are anticipated to be completed soon, allowing the FAA's delegation to visit Pakistan by February or March.
ARY News reports that the likelihood of Pakistan being reclassified to 'Category One' status by the FAA has increased, which would permit the resumption of direct flights to the US.
Notably, PIA's flights to the US were suspended in 2017, when the airline operated six flights per week between Pakistan and the US, including four to New York and two to Chicago.
The Pak government is also intensifying efforts to privatise PIA through government-to-government (G2G) agreements, with a deadline set for December 31, ARY News reported on Saturday, citing sources.
According to the report, both Abu Dhabi and Qatar have expressed strong interest in PIA's privatization, creating a potential opportunity for foreign investment. Active discussions are underway with both countries to finalise the terms of the deal.
In an effort to draw investors, the Securities and Exchange Commission of Pakistan (SECP) is said to be providing significant incentives to individuals interested in purchasing shares in PIA. These initiatives aim to facilitate a seamless transition throughout the privatization process, offering essential assistance to prospective investors, according to the ARY report.
In October 2024, Finance Minister Muhammad Aurangzeb announced that the government aims to finalize the privatization of PIA and three power distribution companies by the year's end.
Originally scheduled to end by October 1, the privatisation process was postponed to October 31 because of low bidder interest, ongoing legal disputes, problems with the aging fleet, and concerns in civil aviation.