PIA Privatisation Accelerated Under PM’s Directive

Prime Minister Shehbaz Sharif has instructed relevant departments to expedite the privatisation of Pakistan International Airlines (PIA) within the projected schedule. This directive was issued during a meeting reviewing the national carrier’s privatisation process, according to a statement released by the Prime Minister’s Office (PMO).

During the session, the Prime Minister received updates on the auction strategy, the anticipated timeline, and the qualifying requirements for those seeking to participate.

“The PM directed that the PIA privatisation be ensured within the proposed timeframe,” the PMO stated.

The Prime Minister also urged the organisation of roadshows to build investor confidence in the airline’s privatisation.

“Transparency should be given central importance in the privatisation process of the PIA,” he emphasized, suggesting live broadcasts of the privatisation of all state-owned enterprises (SOEs) on television and digital media.

The PMO statement further noted that PM Shehbaz was informed that a comprehensive outreach strategy for investors had been created with the advisor’s help and was being executed completely.

The government announced on Thursday that it was soliciting new proposals for the privatisation of PIA, signaling a renewed effort to divest its ownership in the national airline.

Through an advertisement, the Privatisation Commission (PC) formally requested expressions of interest (EOIs) from investors interested in obtaining a controlling share 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 specified.

The government aims to divest a 51–100% stake in the heavily indebted carrier to generate funds and restructure financially strained state-owned companies, as outlined in a $7 billion agreement with the International Monetary Fund (IMF). The initial attempt to privatise PIA the previous year was unsuccessful, as it only drew one bid that was significantly less than the asking price of over $300 million.