ISLAMABAD: Prime Minister Shehbaz Sharif has directed authorities to ensure the privatization of Pakistan International Airlines (PIA) is completed within the set time frame and with full transparency.
Chairing a meeting on Friday to review the privatization process, the Prime Minister emphasized that the entire procedure must be open and clear. To promote transparency, he instructed that the privatization of PIA, along with all future privatizations of state-owned enterprises, be broadcast live on television and digital platforms.
The meeting was informed that a comprehensive strategy for reaching out to investors had already been developed in collaboration with consultants and was being actively implemented. The Prime Minister was also briefed on the bidding criteria, timelines, and the requirements for participating in the process.
Prime Minister Sharif stressed the importance of roadshows to engage potential investors and enhance their participation in the process. He reiterated that the government was committed to completing the privatization within the proposed schedule.
The meeting was attended by several senior officials, including federal ministers Khawaja Muhammad Asif, Ahad Khan Cheema, Attaullah Tarar, Attorney General Mansoor Usman Awan, and others.
In a significant development, the federal government has released an advertisement inviting bids for the privatization of PIA. This marks the second time the government has issued an Expression of Interest (EOI) for the airline under the current administration.
The privatization process has been tightened this time, with stricter conditions imposed on prospective buyers to ensure only financially stable parties are involved. The federal government has also barred provincial governments from participating in the bidding.
Adviser to the Prime Minister on Privatization, Muhammad Ali, informed the media that the deadline for submitting bids is June 3. He explained that the government had refined its approach, learning from the previous failed attempt, and had made it easier for investors by allowing changes to the lead consortium member just two weeks before the bidding date.
The government aims to sell between 51% and 100% of PIA’s shares, along with management control, and hopes to finalize the deal by the last quarter of this year.
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