Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar chaired a meeting of the Cabinet Committee on Privatization (CCoP) to review the privatization plan of Pakistan International Airlines (PIA).
During the meeting, the Secretary of the Ministry of Privatization briefed the committee on the future strategy for PIA Corporation (PIACL). The briefing included details on operational restructuring and potential timelines for privatization.
The Cabinet Committee endorsed the Rs. 135 billion bid submitted by the Arif Habib-led consortium for 75 percent of PIA’s shares. It also recommended that the full Cabinet approve the deal to move the process forward.
Deputy Prime Minister Ishaq Dar urged all relevant authorities to act promptly to ensure early completion of the privatization. He expressed hope that private sector participation would help PIA regain financial stability and operational efficiency.
The meeting was attended by senior officials, including Ministers of Power, Advisors to the Prime Minister on Privatization and Industry and Production, SAPMs Tariq Bajwa and Bilal Kiyani, Federal Secretaries of Cabinet, Privatization, Defence, Law, Power, and the Privatization Commission, along with other key officers.
Officials said transferring majority ownership to a private consortium would strengthen PIA’s management, improve accountability, and enhance overall performance. The Arif Habib-led consortium’s bid was considered the most competitive, reflecting strong private sector interest in reviving the airline.
The next step involves Cabinet approval, after which the privatization process will proceed toward completion. This move is part of a broader government strategy to reform state-owned enterprises, boost competitiveness, and attract private investment into major economic sectors.
In other related news also read What Key Reforms will PIA See Under Arif Habib?
The decision by the Cabinet Committee marks a significant milestone in Pakistan’s efforts to modernize its national airline and ensure long-term sustainability.
