The Privatization Commission Board convened on Wednesday under the chairmanship of Privatization Minister Aleem Khan to address the privatization of Pakistan International Airlines (PIA) and other state institutions. The board decided to refer the PIA privatization matter to the relevant cabinet committee and committed to enhancing the process for future offers.
During the meeting, Minister Khan emphasized that the privatization efforts would adhere strictly to legal and regulatory frameworks while prioritizing the nation’s best interests. He instructed that improvements be made to the offer process for entities like PIA.
Khan assured the board, “The Cabinet Committee will decide to privatise PIA and other institutions. We are committed to doing whatever is necessary to improve the country and the nation.”
Read: KP Government Seeks Update on Bid to Purchase PIA, Awaits Federal Response
On November 1, the opening of bids marked a stalled attempt at privatizing PIA, as the only bid received was significantly lower than anticipated. The Blue World City consortium offered Rs10 billion, falling short of the government’s minimum expectation of Rs85.03 billion. Despite pre-qualifying six groups in June, only this real estate development company participated in the final bidding. Since then, interest in assuming airline control has emerged from at least two provincial governments.
PIA, primarily owned by the government and which has approximately 96% of its issued capital, operates across various business segments, including passenger services, ground handling, flight training, cargo, engineering, and in-flight catering.
Additionally, the board deliberated on the privatization of other projects. Minister Khan directed a prompt advancement in the privatization of these institutions, noting, “We must learn from the PIA privatization process to avoid similar delays in the future.”
