The federal government has formally launched the long-awaited privatisation process of Pakistan International Airlines (PIA), opening bids for a 75 percent stake in the loss-making national carrier in an effort to revive its operations and restore its standing in the aviation sector. The move marks a critical step in the government’s broader economic reform programme aimed at restructuring state-owned enterprises.
According to officials, the Privatisation Commission of Pakistan is conducting the high-profile bidding process on Tuesday. Prospective investors were required to submit sealed bids by 10:30am, with the reference price already approved by both the Privatisation Commission Board and the Cabinet Committee on Privatisation. Authorities say the process has been designed to ensure fairness, transparency and credibility.
Three prequalified bidders are competing for a controlling stake in PIA. One consortium is led by Lucky Cement Limited and includes Hub Power Holdings Limited, Kohat Cement Company Limited and Metro Ventures (Private) Limited. A second consortium comprises Arif Habib Corporation Limited, Fatima Fertiliser Company Limited, City Schools (Private) Limited and Lake City Holdings (Private) Limited. The third contender is Airblue (Private) Limited, participating as a standalone bidder. All three have deposited the mandatory earnest money to qualify for the bidding.
The bids are scheduled to be opened during a public ceremony at 3:30pm, where investors will be present as both the submitted offers and the reference price are revealed. The entire exercise will be conducted in line with established rules and regulations. Adviser to the Prime Minister on Privatisation, Muhammad Ali, is expected to brief the media following the conclusion of the bidding.
This privatisation initiative is a central element of Prime Minister Shehbaz Sharif’s economic agenda, aimed at turning around PIA’s fortunes after years of financial losses and operational challenges. Officials emphasised that the process represents more than a commercial transaction, describing it as a rare opportunity to revitalise the national airline. In recent developments, PIA Privatisation Entered Final Stages
The government has also pledged full transparency, with live coverage planned on television channels, official platforms and social media. Authorities expressed confidence that the privatisation will help PIA reclaim its legacy and re-emerge as a symbol of national pride in the aviation industry.
