Seventy-five per cent of PIA shares to be privatised

ISLAMABAD: Prime Minister Shehbaz Sharif has directed the authorities concerned to complete the privatisation process of Pakistan International Airlines (PIA) in a transparent manner.

Chairing a meeting on PIA affairs, the prime minister instructed the authorities to devise a plan to increase the number of PIA’s airworthy aircraft. He also called for ensuring the timely departure of PIA flights.

The meeting received a briefing on PIA’s privatisation and its business plan. Officials said that four parties have been pre-qualified for the privatisation process, and bidding will begin soon.

It was further stated that PIA’s name and theme will not be changed after privatisation.

By 2029, the number of airworthy aircraft in PIA’s fleet will be increased from 18 to 38. The national airline is currently providing services to more than 30 cities.

Under the business plan, PIA’s services will be expanded to more than 40 cities by 2029. Seventy-five per cent of PIA’s shares will be privatised.

Defence Minister Khawaja Asif, Law Minister Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, Federal Minister Ahsan Iqbal, Adviser to the PM on Privatisation Muhammad Ali and relevant officials attended the meeting.

The federal government resumed the PIA sale process in April with a renewed call for expressions of interest, seeking to sell a 51-100 percent stake in the loss-making national carrier. The move is part of broader efforts to reform state-owned enterprises and raise funds under a $7 billion International Monetary Fund programme.

Last year’s attempt to privatise PIA fell short, with the government receiving only one bid well below the expected price of over $300 million. This renewed effort, now backed by a stronger consortium, signals a more serious push to offload the struggling airline.