The Privatization Commission Board has given the green light to stricter requirements for the privatization of Pakistan International Airlines (PIA) and plans to seek fresh expressions of interest (EOIs) next week for the sale of 51% to 100% of the airline’s shares.
The move was finalized in a board meeting led by Prime Minister’s Adviser on Privatization, Muhammad Ali. Sources indicate that EOIs are expected to be invited by Wednesday or Thursday as part of the updated schedule for PIA’s privatization process.
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Tougher Pre-Qualification Requirements
The board has introduced more rigorous eligibility criteria for potential bidders. Instead of the earlier condition requiring Rs200 billion in annual revenue, interested parties must now present revenue records for at least three consecutive years. Additionally, possessing experience in the aviation industry has become a mandatory requirement to ensure that the airline is managed by experienced professionals.
Officials from the Privatization Commission confirmed that the process has been made more stringent to enhance transparency and credibility. The federal cabinet’s final approval will be sought before the formal bidding stage begins.
Updated Privatization Timeline
PIA’s privatization has already seen several postponements. Initially, the government had committed to the International Monetary Fund (IMF) that the process would be completed by July 2025. However, the revised plan now aims to finalize the privatization by December 2025.
A new public notice inviting EOIs is set to be released next week, marking the beginning of the next phase in the privatization drive. The board is scheduled to meet again tomorrow to further deliberate on the matter.
