- Premier Shehbaz says privatization process completed transparently, professionally and on schedule
- Says total PIA valuation reaches Rs180 billion after final bid of Rs135 billion
- Directs immediate offloading of all loss-making SOEs for national development
- Praises govt team, including Ishaq Dar, Kh Asif, and Muhammad Ali, saying PC chairman to be honoured on March 23
ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Wednesday lauded the government team for successfully completing the privatization of Pakistan International Airlines (PIA), describing it as a landmark achievement in the national interest and a major milestone for Pakistan’s economic reform agenda.
Addressing the team involved in the privatization process, the prime minister said that all loss-making State Owned Entities (SOEs) should be divested immediately in a transparent manner to prevent annual losses, with the proceeds directed toward the country’s development and prosperity.
“بولی کا عمل بھی باہمی مشاورت سے طے کیا تاکہ شفاف طریقے سے براہ راست نشریات کے ذریعے سارا عمل سب کے سامنے نظر آئے۔
ریفرنس پرائس کے حوالے سے پرائیویٹائزیشن کمیشن نے اپنی ساری ورکنگ کے بعد کابینہ کو 100 ارب روپے کی ریفرنس پرائس بتائی جس کی کابینہ نے منظوری دی۔ مسابقتی بولی کے… pic.twitter.com/59WOFieGOo
— Government of Pakistan (@GovtofPakistan) December 24, 2025
He noted that the PIA privatization was concluded a day earlier with full transparency, professionalism, and teamwork. Recalling past attempts, he said several efforts to privatize the airline had failed, including a similar attempt last year, but the government remained committed to moving forward on a fast-track basis despite the complexity and challenges involved.
Prime Minister Muhammad Shehbaz Sharif presents shields to the members of government team which led the privatisation of PIA. pic.twitter.com/BHMZhPKVQg
— Government of Pakistan (@GovtofPakistan) December 24, 2025
“The process was completed through close coordination, consultation, and teamwork involving legal, financial, and technical experts, as well as relevant ministries,” the prime minister said. He added that earlier this month, he personally met potential bidders to address their concerns, and with their consent, December 23 was fixed as the date for divestment.
He explained that the bidding mechanism was finalised through mutual consultation to ensure complete transparency. The cabinet committee had approved a reference price of Rs 100 billion, while the bidding process — broadcast live — concluded at Rs 135 billion. Including the remaining 25 percent government shareholding, the total valuation reached Rs 180 billion.
“پی آئی اے کی نجکاری کا مرحلہ کل بہترین طریقے سے ملکی مفاد میں پایہ تکمیل کو پہنچا۔ ماضی میں بھی اس حوالے سے کئی کاوشیں کی گئیں جو ناکام رہیں، لیکن ہم نے ہمت نہیں ہاری اور اس دشوار کام کو دوبارہ تیزی سے پایہ تکمیل تک پہنچانے کی کوشش کی۔
اس سلسلے میں پیشہ ورانہ انداز میں ٹیم… pic.twitter.com/CncQcJyutc
— Government of Pakistan (@GovtofPakistan) December 24, 2025
Prime Minister Shehbaz Sharif said the government had learned from past failures and ensured no mistakes were repeated, stressing that the entire process was conducted with utmost professionalism. Congratulating the nation, he said the successful conclusion was made possible with the prayers and support of the people.
He expressed confidence that the new management would bring fresh investment, modern equipment, and new aircraft, enabling PIA to grow further in the coming days. He also congratulated the investors who acquired the airline.
Government team which led the privatisation of the national flag carrier meets with Prime Minister Muhammad Shehbaz Sharif. pic.twitter.com/5noPlsZjw3
— Government of Pakistan (@GovtofPakistan) December 24, 2025
The prime minister praised the efforts of the government team, including Deputy Prime Minister Ishaq Dar, Field Marshal Syed Asim Munir, Defence Minister Khawaja Asif, Finance Minister Muhammad Aurangzeb, Chairman Privatization Commission Muhammad Ali, Usman Akhtar Bajwa, Asad Hussain, and Zeeshan Hussain. He described Chairman Privatization Commission Muhammad Ali as the “star performer” and announced he would be honoured on March 23 in recognition of his services.
Highlighting PIA’s previous challenges, the prime minister noted that the airline had been incurring annual losses of around Rs 35 billion due to inefficiency, poor practices, and lack of commitment. He said the officers working tirelessly for national development, poverty reduction, and economic stability were the real heroes.
The ceremony also included awards presented to the members of the government team who played a key role in successfully completing the PIA privatization process.
