PIA privatisation likely by November this year
Four bidders remain in race as government seeks to offload national airline by year-end
Dubai: Pakistan International Airlines Corporation Limited (PIACL) is expected to be privatised by November this year, the Senate Standing Committee on Privatisation was informed on Monday.
The Privatisation Commission secretary told the committee, chaired by Senator Dr Afnan Ullah Khan, that four companies are in the running but would need to form consortia with established airlines to operate the national carrier. Two applicants were already disqualified for not meeting standards.
During the session, Senator Zeeshan Khanzada voiced concern over PIA’s Rs650 billion debt, prompting Senator Afnan to suggest that the airline’s two hotels could be sold to reduce liabilities. Lawmakers also debated the government’s strategy of prioritising the sale of profitable firms. The Privatisation Commission secretary defended the policy, arguing that investor appetite is naturally stronger for profitable assets and that such companies might not remain profitable in the long run, Dawn news reported.
The bidding is expected to take place in the fourth quarter (October—December) of 2025. The government is offering 51% to 100% of PIACL’s shares, including management control. This marks Pakistan’s second attempt to privatise the airline, following a failed effort last year.
The four pre-qualified bidders include three business consortia and one airline operator, reflecting diverse interest in acquiring a majority stake in PIA along with management control.
Four final bidders
According to a statement from the Privatisation Commission, the following four bidders have been cleared:
Consortium of Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures — a heavyweight industrial alliance with deep roots in cement and energy sectors.
Consortium of Arif Habib Corporation, Fatima Fertiliser Company, City Schools (Pvt) Ltd, and Lake City Holdings (Pvt) Ltd — representing a mix of financial services, real estate, education, and manufacturing.
Fauji Fertiliser Company (FFC) — owned by the Fauji Foundation and accepted as a private limited company for bidding purposes.
Airblue (Pvt) Ltd — the only airline in the list, bringing operational aviation experience to the table.
A fifth group including Serene Air, Bahria Foundation, and others failed to qualify after a review of technical and financial documentation.
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