ISLAMABAD (MNN); Prime Minister Shehbaz Sharif announced on Wednesday that the bidding for Pakistan International Airlines (PIA) will be held on December 23 and broadcast live across all media platforms.
The government aims to sell between 51 and 100 per cent of its share in the loss-making national carrier as part of efforts to generate funds and reform state-owned enterprises, a key requirement under the $7 billion IMF programme. This will mark Pakistan’s first major privatisation in almost twenty years.
Four bidders have been shortlisted for the process: Lucky Cement Consortium, Arif Habib Corporation Consortium, Fauji Fertiliser Company Limited and Air Blue Limited.
According to a press release shared by PTV News on X, the prime minister chaired a meeting with representatives of all corporate entities involved in the privatisation process. He reiterated that the bidding would take place on December 23 with full media coverage.
He said the process was progressing efficiently, with the goal of restoring PIA’s lost reputation and transforming it according to modern aviation standards. The premier added that transparency and merit were being strictly ensured throughout the procedure.
Shehbaz Sharif said the revival of PIA’s international operations would greatly benefit overseas Pakistanis, adding that modernising the airline was essential for the growth of the tourism sector.
He expressed hope that whichever entity secured the airline would dedicate its efforts to bringing back PIA’s former prestige and supporting its growth. The statement said the participating companies praised the government’s professional and transparent conduct during the entire process.
