IMF agrees to Pakistan's terms for privatizing PIA, including tax exemptions and debt relief.

The IMF has agreed to Pakistan's terms for privatizing PIA, including sales tax exemptions on aircraft purchases and settling equity losses. This could raise the airline's bidding price to up to Rs350 billion. PIA's debt of Rs660 billion is assumed by the government, and funds from PIA's privatization and the sale of the Roosevelt Hotel will be used to settle debts. The IMF also approved the establishment of a joint venture for the hotel's sale within six months.