Pakistan approves four potential bidders for national airline PIA

July 8 (Reuters) - The Pakistani government said on Tuesday it had approved four parties to potentially bid for a stake in Pakistan International Airlines PIAHa.PSX.

The sale is seen as a test of Pakistan’s ability to shed loss-making state firms and meet the conditions of a $7 billion International Monetary Fund bailout. It would be the country’s first major privatisation in nearly two decades.

The country's privatisation ministry said that the Cabinet Committee on Privatisation had also approved the transaction structure for the Roosevelt Hotel, New York.