In a surprising development amid the ongoing privatization process of Pakistan International Airlines (PIA), the price of its Class B shares has witnessed an extraordinary surge of over Rs18,000 within just one month — jumping from Rs4,000 to over Rs22,000 per share.
The unusual price hike has raised concerns at the Pakistan Stock Exchange (PSX), prompting the regulatory body to demand an explanation from the PIA Holding Company over the sudden market movement.
Responding to the PSX's inquiry, PIA stated in an official letter that the airline is unaware of any development or information that could have triggered such a dramatic price increase. The company added that it has no details to share in this regard.
