Islamabad: Federal cabinet in its major decision in regard to privatization of PIA has accorded approval to sell 100 percent shares of PIA in part or in full.

According to sources approval was also given for transferring administrative control of PIA to its purchaser.

PIA transaction summary from Cabinet committee for privatization has been approved.

As per sources advertisements for new expression of interest will be published in national and international news papers.

Cabinet has also nodded yes to 2 conditions of IMF regarding privatization of PIA.

Cabinet also gave approval to launch second phase of privatization of PIA.

Sources said shares will be sold out through three possible methods.