Prime Minister Shehbaz Sharif announced on Wednesday that the government will hold bidding for Pakistan International Airlines (PIA) on December 23, 2025.
This move represents Pakistan’s first major privatisation in almost two decades. The government aims to sell a 51-100% stake in the financially struggling national carrier. The sale is a key component of reforms for state-owned enterprises. These reforms are under the current $7 billion International Monetary Fund (IMF) programme.
Four entities have been pre-qualified for the strategic sale:
- Lucky Cement Consortium
- Arif Habib Corporation Consortium
- Fauji Fertiliser Company Limited
- Air Blue Limited
According to a press release from state broadcaster PTV News, the Prime Minister chaired a meeting with representatives from all participating corporate entities. He stated, “PIA’s bidding will take place on December 23, 2025, which will be broadcast live on all media.”
PM Shehbaz emphasised that the process is progressing smoothly to restore the airline’s “lost prestige” and modernise its operations. “We are ensuring transparency and merit in the privatisation process of PIA,” he affirmed. He expressed confidence that the successful bidder would focus all energies on revitalising the national carrier. Ultimately, this would help in reconnecting with its slogan, ‘Great People to Fly With.’
Read: Pakistan Targets Mid-December for Final PIA Privatisation Bidding
The Prime Minister highlighted that restoring PIA’s global flight network would significantly benefit overseas Pakistanis. He also noted that modernising the airline is “extremely essential” for developing Pakistan’s tourism sector.
Participants in the meeting reportedly commended the government’s “professional and transparent approach.”
The timeline for PIA’s privatisation has seen adjustments. A parliamentary committee was informed in September that the process was expected to conclude by November. After a directive from PM Shehbaz on November 20 to expedite proceedings, the National Assembly Standing Committee on Privatisation sought a clear, accelerated timeline last week.
PIA resumed flights to Europe in January after a four-year ban imposed by the European Union due to safety concerns. A prior attempt to sell the airline in 2023 failed. A $36 million bid from real estate firm Blue World City did not meet the $305 million reserve price.