The privatization of Pakistan International Airlines (PIA) will move forward on December 23 as planned, with prospective investors required to commit an immediate investment of Rs80 billion, officials told the Senate Standing Committee on Privatization.
During the committee meeting, authorities confirmed that the bidding process for PIA will involve the sale of 51 to 100 percent of the airline’s shares. The bidding will be conducted transparently and broadcast live to ensure openness. Officials added that the successful bidder will be required to inject Rs80 billion into the airline immediately after privatization.
The committee was also informed that the privatization of electricity distribution companies will begin next year. In the first phase, three companies, Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO), will be offered for privatization. Each company will have a separate bidding process, with the government aiming to complete its privatization by the middle of next year.
In addition, officials briefed the committee on plans to privatize other state-owned entities, including the Guddu and Nandipur power plants. They clarified that if the privatization of any entity does not move forward as planned, the matter will be referred back to the federal cabinet for further consideration.
