Prime Minister Shehbaz Sharif on Friday directed the concerned authorities to ensure privatisation of the Pakistan International Airlines (PIA) within the proposed timeframe, a statement from the Prime Minister’s Office (PMO) read.
He said this in a review meeting for the privatisation of the national carrier.
During the meeting, the prime minister was briefed on the auction process, the required timeline, and the eligibility criteria for participation in the auction.
“PM directed that the privatisation of PIA be ensured within the proposed timeframe,” the PMO said.
PIA privatisation: govt restarts airline sale process with fresh EOI call
The premier also instructed to organise roadshows and take investors into full confidence regarding the privatisation of the national airline.
“Transparency should be given central importance in the privatisation process of the PIA,” he stressed, directing that the privatisation process of all state-owned enterprises be broadcast live on television and digital platforms.
“PM Shehbaz was briefed that a comprehensive investor outreach strategy had been developed in collaboration with the consultant, and was being fully implemented,” the PMO statement read.
On Thursday, the government said it was seeking fresh bids for the privatisation of the PIA, marking a renewed effort to offload its stake in the national carrier.
The Privatisation Commission (PC) invited expressions of interest (EOIs) through an advertisement from investors interested in acquiring a majority stake in the restructured airline.
“Interested parties that are companies, firms, body corporate or other legal entities should submit EOIs (as a single entity or as a consortium)………with non-refundable processing fee of $5,000 or Rs1,400,000.
“Where an interested party is submitting an EOI as a consortium, the processing fee is only required to be paid by one member of the consortium……The EOI must be available with the Privatisation Commission and the processing fee must be paid, on or before 16:00 Hours, on Tuesday, June 3, 2025,” the advertisement read.
The government has been seeking to sell a 51-100% stake in the debt-ridden carrier, to raise funds and reform cash-draining, state-owned enterprises (SOEs) as envisaged under a $7 billion International Monetary Fund programme (IMF).
It failed in the first attempt to privatise the PIA last year after receiving a single offer, well below the asking price of more than $300 million.
American Dollar Exchange Rate