Pakistan International Airlines to be Privatized by August 2024

Islamabad [Pakistan], June 26: The long-awaited privatization of Pakistan International Airlines (PIA) is expected to take place in early August 2024. A total of six companies have been shortlisted for the privatization process and have requested detailed information about PIA. These companies have asked for time till July to review the financial issues of the national airline.

The authorities are providing the required information and data to the consortium of shortlisted companies. The companies in the pre-qualified consortium will now be eligible to participate in the bidding process for PIA.

These decisions were made during the Privatisation Commission Board meeting, chaired by Federal Privatization Minister Aleem Khan. During the meeting, Aleem Khan reiterated the administration’s commitment to ensuring a transparent and efficient privatization process for all state-owned enterprises that are incurring significant losses. To maintain transparency and foster confidence among stakeholders, Khan suggested broadcasting the privatization proceedings live on various media platforms.

Earlier in April, Finance Minister Muhammad Aurangzeb emphasized the PIA privatization process, expecting it to be completed by the end of June or early July, with Islamabad airport potentially following shortly after. Aurangzeb said, “We expect the bids for PIA to come in the next two to three weeks, and by the end of June or early July, we can move it to the investors.” He added, “The Islamabad airport would be the next, followed by the airports in Karachi and Lahore.”

The Privatisation Commission will decide on the number of shares the government will sell as it nears the conclusion of the PIA privatization process, according to Bilal Azhar Kayani, Coordinator to Prime Minister Shahbaz Sharif on Economy and Energy.