The National Assembly’s Privatisation Committee received a detailed briefing on the upcoming privatisation of Pakistan International Airlines (PIA), marking a significant milestone in the country’s economic reform agenda.
According to official statements, the Privatisation Commission Secretary confirmed the government expects to complete the entire privatisation process within the next 60 to 90 days, with plans to retain only a 15 per cent stake in the national carrier while offering the remaining 85 per cent to private investors.
During the committee meeting, Chairman Farooq Sattar emphasised the critical need to protect PIA employees’ interests throughout the transition period. He specifically advocated for implementing safeguards that would give the airline’s workforce three to five years to adjust to the organisational changes, while ensuring their welfare remains a top priority in the privatisation framework. This human-centric approach aims to balance economic reforms with social responsibility.
Read: PIA Privatization : Four Bidders Advance to Due Diligence Phase
The privatisation process gained substantial momentum following the recent pre-qualification of four major investor consortia during the 273rd meeting of the Privatisation Commission Board, chaired by Minister Muhammad Ali. After meticulous evaluation of five initial applications, the selection committee approved four groups of prominent Pakistani companies. These include notable industry leaders such as Lucky Cement Limited partnering with Hub Power Holdings Limited, Kohat Cement Company Limited joining forces with Metro Ventures Limited, and Arif Habib Corporation Limited collaborating with Fatima Fertiliser Company. The fourth consortium comprises City Schools Limited, Lake City Holdings, Fauji Fertiliser, and Airblue, representing a diverse mix of industrial and aviation sector expertise.
The government’s decision to retain a minority 15 per cent stake reflects a carefully calibrated approach to maintaining some oversight while allowing private sector efficiency to revitalise the airline’s operations.
