Elite Panel Formed To Supervise PIA’s Privatization

Prime Minister Shehbaz Sharif has initiated several committees aimed at revitalizing the economy and fostering investments in response to the financial crisis. Among these reforms, a committee has been established to oversee the privatization of the state-owned Pakistan International Airlines (PIA) and the outsourcing of airports.

Led by Defense Minister Khawaja Muhammad Asif, the committee includes members from various ministries such as privatization/Board of Investment, foreign affairs, planning and development, aviation, and privatization. Its primary responsibilities include managing the outsourcing of major airports and monitoring the final phase of PIA’s privatization.

Read more: Istanbul PIA Flight Narrowly Dodges Disaster

Finance Minister Muhammad Aurangzeb previously announced that the national carrier’s privatization would be completed by June. Additionally, three airports—Allama Iqbal International Airport Lahore, Islamabad International Airport, and Jinnah International Airport Karachi—are slated for outsourcing to enhance passenger services.

With annual losses exceeding Rs100 billion, privatizing PIA has become imperative to mitigate its drain on the national treasury. Efforts to privatize the airline began under the previous administration, leading to the passage of the Privatization Ordinance to streamline the process and circumvent legal obstacles.

PIA has faced criticism for its financial mismanagement, including account freezes by the Federal Board of Revenue and fuel supply disruptions by Pakistan State Oil. Despite recent attempts to resolve disputes, the airline’s long-term sustainability remains uncertain, prompting policymakers to pursue privatization to ensure its viability under private ownership.