Prime Minister Shehbaz Sharif on Thursday directed authorities to fast-track the privatisation of the Pakistan International Airlines (PIA), while assuring that the national carrier’s name and theme would not be changed after the transaction.
Chairing a high-level meeting at the Prime Minister’s House to review PIA’s restructuring and sell-off process, the prime minister said all stages of the privatisation must be completed with “speed and full transparency”, as per a statement from the Prime Minister’s Office (PMO).
He also instructed officials to draw up a plan to increase the number of airworthy aircraft in PIA’s fleet and ensure the timely departure of flights.
Officials briefed the meeting that four parties had been pre-qualified for the bidding phase, which was expected to take place soon.
They informed the prime minister that 75% of PIA’s shares would be privatised, with a binding condition that the airline’s name, branding and theme will remain unchanged after the sale.
According to the business plan presented, PIA’s fleet of 18 airworthy aircraft will be expanded to 38 by 2029. Currently serving over 30 cities, PIA aims to expand its service network to more than 40 destinations by 2029.
Earlier this week, Chairman Privatisation Commission Muhammad Ali said the government planned to complete the sale of the PIA within the current year but would not extend any guarantees to prospective buyers.
In an interview on Aaj TV’s News Insight with Amir Zia, Ali said the IMF had approved the withdrawal of sales tax on the transaction, but other forms of investor assurances would not be offered.
“Governments change, and running airlines or businesses is not the mandate of provincial administrations,” he noted.
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