They are not privatizing the whole thing. Only 26% shares.
Nothing is going to happen overnight. Things are changing step by step.
First, they announced employees will no longer get benefits like free tickets etc,.
Second, they cancelled routes which were causing loss
Third, they prioritized the value of Hajj travel. As a result during this year, they gained considerable revenue
Fourth, they fired 300+ people on grounds of fake degrees.
Fifth, they placed orders for 20 new aircraft on lease which will help cut down fuel and maintenance expenses.
* Read yesterday's paper. PIA has gained revenue.
Privatizing 26% shares is a major step towards depoliticizing.
Like Aether said, selling overseas asset shares is exactly what British Airlines did. Hotel is not prime business of airlines.
He has changed his mind. Not showing interest anymore.