ISLAMABAD: The government has announced a target to complete the privatization of the national airline, Pakistan International Airlines (PIA), within the next two to three months.
The privatization process has entered its final stages with five parties expressing interest in acquiring the airline, according to media reports. Of these, four have been declared eligible for due diligence by the scrutiny committee. These shortlisted bidders were given access to PIA’s financial and operational records on Tuesday.
The update was shared during a meeting of the National Assembly’s Standing Committee on Privatization, chaired by MNA Dr. Farooq Sattar. Secretary of the Privatization Commission, Usman Bajwa, briefed the committee, explaining that while the government hopes to complete the process by the last quarter of 2025, no final decision will be made until investors are fully satisfied.
Bajwa further stated that the successful bidder will be required to expand PIA’s fleet from 19 aircraft to at least 45. Committee members stressed protecting PIA employees’ jobs, demanding employment guarantees for 3 to 5 years. Bajwa assured them that worker protections would be part of the privatization agreement, noting that staff numbers have already been reduced from 11,000 to 6,000.
He also revealed that prominent Pakistani business groups have shown strong interest in the airline, and regional carriers have been invited to bid. Meanwhile, PIA’s CEO told the committee that flights to France have resumed, and service to Manchester is expected to restart soon. He claimed the airline’s performance has improved significantly over the past year.
Separately, the committee was informed that Expressions of Interest (EOIs) for New York’s historic Roosevelt Hotel will be invited in August, with a financial adviser finalizing the transaction structure.
