ISLAMABAD: Prime Minister Shehbaz Sharif has directed authorities to ensure the privatisation of Pakistan International Airlines (PIA) is completed within the proposed timeframe, as part of the government’s broader economic reform strategy.
Chairing a high-level review meeting on Friday, the prime minister emphasized the importance of transparency and investor confidence in the privatisation process. According to a statement from the Prime Minister’s Office (PMO), Shehbaz Sharif called for roadshows to attract potential investors and instructed that the entire process be made public through live broadcasts on both television and digital platforms.
“Transparency should be given central importance in the privatisation process of PIA,” the PMO quoted the prime minister as saying.
During the meeting, officials briefed the premier on the auction timeline, investor eligibility criteria, and progress on stakeholder outreach. The PM was informed that a comprehensive investor engagement strategy has already been developed in collaboration with a consultant and is currently being implemented.
On Thursday, the government issued a renewed call for expressions of interest (EOIs) from investors aiming to acquire a majority stake in the financially struggling national airline. The move comes after a failed attempt last year when the only bid received was well below the expected $300 million valuation.
According to the Privatisation Commission’s announcement, interested parties — including companies, firms, corporate bodies, or legal entities — may apply either individually or as part of a consortium. A non-refundable processing fee of $5,000 (or Rs1.4 million) is required, and EOIs must be submitted by 4:00 p.m. on Tuesday, June 3, 2025.
PIA, long plagued by inefficiency and mounting debt, is among the key state-owned enterprises (SOEs) targeted for restructuring and sale under the terms of a $7 billion programme agreed upon with the International Monetary Fund (IMF). The government aims to sell between 51% and 100% of its stake in the carrier to reduce losses and improve fiscal stability.
The privatisation of PIA is seen as a test case for the government’s ability to implement long-awaited economic reforms, especially as Pakistan seeks to regain investor trust and stabilize its economy.
Prime Minister Shehbaz’s renewed push signals a strong political commitment to pushing forward with the sale, despite earlier setbacks. As the deadline for EOIs approaches, all eyes will be on the government’s ability to attract serious international bidders and see through one of its most ambitious privatisation efforts in recent years.
