Pakistan caretaker government privatises PIA airline ahead of general election

In a final move before the upcoming elections, Pakistan's interim cabinet has approved the restructuring of the financially troubled national carrier, Pakistan International Airlines (PIA), as part of its strategy to privatize the airline, which has been facing losses for years. The caretaker government, just two days prior to the elections, decided to split PIA into two separate entities named TopCo and HoldCo, as outlined in a statement following the late Tuesday cabinet meeting chaired by interim Prime Minister Anwaarul Haq Kakar.