PIA privatisation deadline extended once again

ISLAMABAD: The government has extended the deadline to submit bids for the privatisation of Pakistan International Airlines (PIA) until June 19, 2025.

The earlier deadline was June 3. All other terms and conditions remain unchanged.

According to an official advertisement, interested parties can now submit their EoIs and Statements of Qualification by 4:00 PM on June 19.

PIA is Pakistan’s national flag carrier and operates under Pakistan International Airlines Corporation Limited (PIACL), a public limited company.

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Around 96 per cent of its shares are owned by the government through PIA Holding Company Limited.

The airline currently offers full-service operations, flying around 268 times a week to 30 destinations. It served about four million passengers last year.

The government aims to sell 51 per cent to 100 per cent of its stake in PIA as part of efforts to reform loss-making state-owned enterprises (SOEs) under a $7 billion IMF programme.

Last year, the privatisation attempt failed after only one bid came in. The Blue World City consortium offered Rs10 billion for a 60 per cent stake, far below the government’s minimum target of Rs85.03 billion. The Privatisation Commission rejected the offer, ending the process.