PIA Privatization Deadline Set by PM Sharif

Prime Minister Shehbaz Sharif has instructed relevant departments to expedite the privatization of Pakistan International Airlines (PIA) within the established timeline. This directive was issued during a review session focused on the national carrier’s privatization, according to a statement released by the Prime Minister’s Office (PMO).

During the meeting, the prime minister received updates regarding the auction procedure, the projected schedule, and the prerequisites for participation.

“The Prime Minister has directed that the privatization of PIA must be completed within the proposed timeframe,” the PMO stated.

Roadshows and Investor Confidence

The premier also instructed officials to conduct roadshows and keep investors well-informed throughout the national airline’s privatization.

“Transparency should be a key element in the PIA privatization process,” he emphasized, also ordering that the privatization of all state-owned enterprises be broadcasted on television and digital platforms.

“PM Shehbaz was briefed on the comprehensive investor outreach plan developed with the consultant, which is now being fully implemented,” the PMO statement added.

Fresh Bids Invited for PIA

The government announced on Thursday that it is soliciting new bids for the privatization of PIA, signaling a renewed push to divest its stake in the airline.

The Privatization Commission (PC) has released an advertisement inviting expressions of interest (EOIs) from potential investors keen on acquiring a controlling interest in the restructured airline.

Details on EOI Submission

“Interested companies, firms, corporate entities, or other legal entities should submit EOIs (either individually or as part of a consortium) along with a non-refundable processing fee of $5,000 or Rs1,400,000.

“If an interested party is submitting an EOI as a consortium, only one member of the consortium needs to pay the processing fee. The EOI, along with the processing fee, must be submitted to the Privatization Commission by 16:00 Hours on Tuesday, June 3, 2025,” the advertisement specified.

The government aims to sell between 51% and 100% of the debt-laden carrier to generate revenue and overhaul struggling state-owned enterprises (SOEs), as outlined in a $7 billion agreement with the International Monetary Fund (IMF).

A previous privatization attempt last year failed after the government received only one offer, which was significantly below the asking price of over $300 million.