The government will seek an expression of interest next week for the sale of Pakistan International Airlines, the Ministry of Privatics said on Thursday, days after it reported its first annual profit in over two decades.

Pakistan has tried to sell a 51-100% share in the debt competition to raise funds and reform cash management, state-owned companies that intended under an international monetary fund program of $ 7 billion.

The failed attempt to privatize Pakistan International Airlines last year received a single offer well below the requested price of more than $ 300 million.

The Board of Directors of the Privatization Commission has approved to seek new bids, the Ministry said in a statement.

“The Board of Directors approved the criteria for pre -qualification for the selection of potential bidders,” it said. It added new expressions of interest in buying between 51 and 100% of the airline would be searched next week.

Pakistan has changed almost the entire national carrier’s inheritance to government books following questions raised by bidders led to failure in the last privatization attempt.

Muhammad Ali, government adviser for privatization, said last week that all the questions raised at the time of last year’s failed attempts had been addressed.