The federal government is reportedly devising a new strategy to privatize the financially struggling national flag carrier, Pakistan International Airlines (PIA).

According to a recent media report, after the latest unsuccessful attempt to privatize the airline, the government is now considering selling PIA to either Qatar or Abu Dhabi through a government-to-government agreement.

The report further indicates that applications for expressions of interest are being accepted until November 30. This move comes after the sole interested party, real estate developer Blue World City, declined to increase its bid of Rs. 10 billion to acquire a majority stake in PIA.

Additionally, the Khyber Pakhtunkhwa government has expressed interest in acquiring the airline, while the Punjab government is also reportedly considering the acquisition of the national flag carrier.