PIA May Become Part of Qatar Airways in Investment Package Worth $5 Billion

Pakistan is likely to receive an unusual package from Qatar, under which Pakistan International Airlines (PIA) could become a part of Qatar Airways in an overall investment package that could reach $5 billion.

Well-informed sources in the Ministry of Finance have told ProPakistani that Pakistan and Qatar will sign an agreement on the airports of Lahore, Karachi, and Islamabad after making PIA a part of Qatar Airways.

The sources revealed that the technical negotiations on the points of agreement have been going on since 4 September 2022. The points under discussion include on-flight services, flight fleets, and airport services. Moreover, ticketing, airport maintenance, flight management, and the terminal lease will not be part of the agreement.

The sources further said that investment in the Pakistan Stock Exchange will be part of the new deal. Alongside, Liquefied Natural Gas (LNG) supply contract without the involvement of a third party will also be part of the deal. Qatar is also planning to partially defer the payments of LNG.

Pakistan is taking input from international organizations in this regard. It will invite experts from World Bank and International Finance Corporation to take part in preparing the package.

Source: Pro Pakistani