ISLAMABAD – Pakistan International Airlines (PIA) is on the verge of a historic privatization, with the bidding process slated to be broadcast live across Pakistan on December 23, 2025. Prime Minister Shehbaz Sharif announced that transparency and merit remained in focus, promising that this process will be “smooth and fair” as PIA prepares to reclaim its lost glory.
The stakes couldn’t be higher. In a high-level meeting at the Prime Minister’s House, all participating business tycoons and company representatives joined federal ministers, advisors, and senior officials. Among those present were Muhammad Ishaq Dar, Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Azam Nazir Tarar, Sardar Owais Khan Laghari, Bilal Azhar Kiani, Advisor Muhammad Ali, and Special Assistant Haroon Akhtar.
The premier said privatization will restore PIA’s prestigious legacy, and highlighted that the restoration of international flights will bring immense convenience to overseas Pakistanis and boost the country’s tourism sector.
The government received initial interest from eight companies, but only five submitted Statements of Qualification, and now four remain active including:
- Lucky Cement, Hub Power, Kohat Cement, and Metro Ventures (consortium)
- Air Blue
- Fauji Fertilizer Company
Other groups, including Arif Habib, Fatima Fertilizer, City School, and Lake City Holdings, as well as joint bidders like Augment Securities, Syrian Air, Bahria Foundation, Mega Holdings, and Equitas, have dropped out of the race.
After last year’s failed attempt, when Rs10-billion bid came in against minimum price of Rs85 billion, the government made strategic moves to boost PIA’s appeal. The airline now resumes international flights, particularly to Europe and the UK, making the airline more attractive.
There is improvements in the country’s economic situation, restoring investor confidence. Resolution of PIA’s tax issues and offering sales tax exemptions for new aircraft leases and purchases. Full ownership transfer to the private sector, unlike last year when the government retained 40%.
Privatization Commission spokesperson said measures are expected to result in very strong offers this time, expressing optimism, citing economic stability and investor confidence.
PIA Privatisation — Key companies’ owners arrive at Prime Minister’s House
