The Privatization Commission Board of Pakistan has moved forward decisively in the privatization of Pakistan International Airlines (PIA), approving stricter eligibility criteria for potential buyers and preparing to issue a new call for expressions of interest (EOIs) next week. This significant development marks a fresh chapter in the long-delayed process of transferring the national flag carrier to private ownership.
In a recent board meeting chaired by Muhammad Ali, the Prime Minister’s Adviser on Privatisation, it was decided that EOIs for the sale of 51% to 100% shares of PIA will be invited as early as Wednesday or Thursday next week. This move aligns with a revised timeline that now aims to complete the privatization process by December 2025, a shift from the previously stated target of July 2025 given to the International Monetary Fund (IMF).
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The updated pre-qualification criteria introduce stricter financial and operational requirements. Prospective investors must now demonstrate revenue over a period of at least three years, replacing the earlier requirement of Rs200 billion in annual revenue. Additionally, experience in the aviation sector has been made compulsory, ensuring that only capable and credible operators are eligible to manage the airline’s operations post-privatization.
Officials from the Privatization Commission have emphasized that the tightened criteria aim to enhance transparency and ensure that the bidding process attracts serious and qualified contenders. Before the formal bidding can begin, the revised privatization plan will need final approval from the federal cabinet.
The planned publication of a new advertisement next week will officially relaunch the EOIs phase and accelerate efforts to bring PIA under private management. The board is scheduled to reconvene tomorrow to continue deliberations and finalize further steps in the privatization strategy.
With this renewed push, the government appears committed to executing a more credible and efficient process for divesting its stake in one of Pakistan’s most high-profile state-owned enterprises.
