Prime Minister Shehbaz Sharif on Thursday directed relevant authorities to expedite and complete all phases of the long-pending privatization of Pakistan International Airlines (PIA), stressing on complete transparency throughout the process.
Chairing a meeting to review the privatization status of the national flag carrier, Sharif emphasized the need to develop a clear strategy to increase the number of airworthy aircraft in its fleet and ensure that all flights depart on time. He said improving operational efficiency must remain a top priority.
During the meeting, the prime minister was informed the Privatization Commission has prequalified four parties for the PIA sale, with an aim to sell a 75% stake with management control. As part of the deal, the new owner would be required to retain the airline’s name and branding after procurement. He was also told the bidding phase would commence soon.
In July, the Board of the Privatization Commission prequalified Fauji Fertilizer Company Limited, Air Blue (Private) Limited, a consortium comprising Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited and Metro Ventures (Private) Limited, and another consortium comprising Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, City Schools (Private) Limited and Lake City Holdings (Private) Limited. On the consortium’s request, AKD Group Holdings (Private) Limited has been added to the group led by Arif Habib.
According to the information shared during the meeting, plans call for increasing the number of airworthy aircraft in PIA’s fleet from 18 to 38 by 2029. The carrier also plans to expand its service network to more than 40 destinations by 2029.