On Thursday, the Supreme Court of Pakistan lifted restrictions against the privatization of Pakistan International Airlines (PIA). The decision came from a constitutional bench led by Justice Amin-ud-Din.
During the proceedings, the additional attorney general highlighted that hiring new professionals at PIA had been paused due to the ongoing privatization efforts. He mentioned that the government is preparing for a second privatization attempt following a lower-than-expected bid. This follows the recent lifting of flight operation restrictions in Europe, potentially enhancing PIA’s market value.
Justice Amin-ud-Din commented on the situation, noting the government might now secure a better rate in the privatization process. Justice Mandokhail, another bench member, emphasized that the court supported privatization, provided it was kept informed.
Read: Shahid Khaqan Abbasi Lambast Govt on Unrealistic PIA Privatization
Subsequently, the court officially reversed its stance against privatizing PIA.
The government’s initial attempt to privatize PIA faltered, attracting only a bid of Rs10 billion, which it rejected. The matter was then returned to the cabinet for further consideration.
Federal Minister for Privatization Aleem Khan attributed the unsuccessful sale to issues within the Federal Board of Revenue (FBR). He discussed these challenges at a meeting of the Senate Standing Committee on Privatization, chaired by Senator Talal Chaudhry in Islamabad. Aleem Khan noted that the privatization process began on November 28, 2023, before he took office.
