The final auction for the privatisation of state-owned Pakistan International Airlines (PIA) Corporation is set for October 30, 2024. This announcement was made by Parliamentary Secretary for Communication Gul Asghar Khan in the National Assembly while responding to a call attention notice raised by Pakistan People’s Party (PPP) MNA Sharmila Sahiba Faruqui.
Gul Asghar Khan explained that the PIA privatisation is a lengthy process carried out under an extensive framework involving multiple institutions. The process, which began in February 2024, is being managed by the Privatisation Commission Board, chaired by the Minister of Privatisation. The Secretary of the Privatisation Commission serves as the board’s secretary. The privatisation decision was previously approved by the Cabinet Committee on Privatisation.
The parliamentary secretary stated that PIA’s assets had been reorganised, separating operational and non-operational assets, with the final auction to be conducted under PIA Corporation on October 30.
As the government progresses with the PIA privatisation, new demands have emerged from potential buyers. During a Senate Privatisation Committee meeting chaired by Senator Talal Chaudhry, it was revealed that interested companies are requesting significant changes, including the immediate dismissal of all employees and acquiring 76 percent of PIA’s shares. Additionally, the government would be responsible for clearing all outstanding tax payments.
The bidders also requested an extension for completing their due diligence, indicating that the privatisation process could face delays.
