The PIA Holding Company continues to own 36 properties after the sale of 11 assets, according to documents prepared by the Privatization Commission. The remaining portfolio includes valuable properties in Pakistan and overseas that could help address the company’s financial obligations.
The documents show that the PIA Holding Company still controls a wide range of assets located in Pakistan, the United States, and France. Some of the most prominent properties include the Roosevelt Hotel in New York and the Scribe Hotel in Paris, both considered major international assets.
Besides these well-known hotels, the portfolio also includes sales offices, warehouses, a farmhouse, hundreds of acres of land, and a housing colony. These assets remain part of the holding company’s property portfolio after previous asset sales.
According to the Privatization Commission, seven of the remaining 36 properties were transferred to the PIA Holding Company through an official gazette notification. These transferred assets include an open plot in Islamabad, a sports complex, and a football ground in Karachi.
Officials believe these properties may play an important role in improving the company’s financial position. The commission stated that the remaining assets could be used to help settle outstanding liabilities linked to the holding company.
The latest documents also outline the government’s plans regarding the privatization of Pakistan International Airlines. Authorities expect to complete the sale of the remaining 25 percent government stake in PIA during the current fiscal year.
According to the Privatization Commission, the planned transaction could generate around Rs. 45 billion for the government. The expected revenue would support the government’s broader privatization strategy for state-owned enterprises.
The sale of the remaining stake is part of ongoing efforts to restructure PIA and attract private sector investment. Officials hope the move will improve operational efficiency and reduce the financial burden on the public sector.
The holding company was established to separate the airline’s non-operational assets and liabilities from its core aviation business. This structure allows the privatization process to focus on airline operations while managing real estate and other assets independently.
The remaining property portfolio represents a significant portion of the holding company’s overall asset base. Some of these assets are located in prime commercial areas, making them potentially valuable for future financial restructuring.
Government officials continue to review different options for managing these assets as part of the broader privatization process. The properties could be retained, sold, or used to settle financial obligations depending on future policy decisions.
The Privatization Commission believes proper management of these assets will support the overall restructuring plan. Officials also expect the privatization process to improve transparency and strengthen long-term financial sustainability.
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The latest update provides a clearer picture of the holding company’s remaining assets and future plans. As the privatization process moves forward, the government’s focus remains on completing the sale of the remaining PIA stake while using available assets to improve the company’s financial position and reduce outstanding liabilities.
