All eyes are on Pakistan International Airlines (PIA) today as the government moves forward with the privatisation of the national flag carrier, one of the most significant transactions involving a state-owned enterprise in recent years. According to officials, three consortiums remain in contention to acquire a 75 per cent stake in PIA. These include groups led by AirBlue, Arif Habib Pvt Ltd, and Lucky Cement, following the withdrawal of Fauji Fertiliser Company (FFC) from the bidding process.
Read More: Open bidding for PIA privatisation today
Privatisation Minister Muhammad Ali has said that unsuccessful bidders will have no role in the future management of the airline. Under the current framework, only the winning consortium will gain control of PIA’s operations, while losing bidders will be barred from joining the new management. However, parties that did not participate in the auction, including FFC, may later partner with the successful bidder if they choose.
Best of luck to all bidders participating in the PIA privatisation process an important milestone toward a stronger, more efficient national airline.#MinistryOfPrivatisation #PIA #Privatisation #Pakistan #Aviation #Investment #Transparency pic.twitter.com/ZJzlwycx7X
— Ministry of Privatisation, Government of Pakistan (@PrivComPakistan) December 23, 2025
All corporate eyes on PIA privatisation, tomorrow is D-day.
Behind the scenes drama has emerged. In a stunning development, Tabba Group flatly rejected a joint-venture proposal pitched by Arif Habib Group at a PM-led meeting last week – – a deal that would have split ownership… pic.twitter.com/TcCj1EMbxD— Kamran Khan (@AajKamranKhan) December 22, 2025
Ahead of the bidding, reports emerged of informal discussions between some of the bidders regarding a possible shared control arrangement. These talks reportedly involved the Arif Habib and Lucky Cement groups but ultimately collapsed after scepticism from at least one party. Both Lucky Cement head Muhammad Ali Tabba and senior government officials later clarified that these interactions were not government-facilitated and had no bearing on the formal privatisation process.
The Privatisation Commission has announced that sealed bids will be submitted around 10:30am today. The reference price will be approved only after bids are received by the Privatisation Commission Board and the Cabinet Committee on Privatisation.
The bids will be opened in a formal ceremony scheduled for 3:30pm, to be held in the presence of the bidders. Adviser to the Prime Minister on Privatisation Muhammad Ali is expected to address a press conference following the conclusion of the process.
The entire event will be broadcast live on television and streamed across official government social media platforms, reflecting the authorities’ intent to ensure transparency.
Read More: PIA 75% stake privatization bidding tomorrow
The government is keen to avoid a repeat of the previous failed attempt to privatise PIA, when only one bidder participated and submitted an offer far below the set reference price, leading to the collapse of the process.