Bidding for the privatisation of Pakistan International Airlines (PIA) began on Tuesday, with three prominent business consortia competing to acquire 75 percent shares in the national carrier. Moreover, the process is part of the government’s broader economic reform agenda.
Read more : PIA 75% stake privatization bidding tomorrow
The sealed bids were submitted at 10:30 am, with reference prices to be approved later by the Privatisation Commission Board and Cabinet Committee on Privatisation. Meanwhile, the bids will be opened in a ceremony at 3:30 pm in the presence of participating bidders.
The three consortia in the race include groups led by AirBlue, Arif Habib Pvt Ltd, and Lucky Cement, following the exit of Fauji Fertiliser Company (FFC). Consequently, the government aims to ensure transparency by streaming the event live on television and digital media platforms.
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After the bidding concludes, Adviser to the Prime Minister on Privatisation Muhammad Ali will hold a press briefing to announce results, while officials hope the move will restore PIA’s operational efficiency and brand strength. Furthermore, the privatisation is being carried out to revive the airline’s reputation and profitability.