Federal government has decided to invite Expressions of Interest (EOIs) for the privatisation of Pakistan International Airlines (PIA) starting April 24.
According to the Privatisation Commission, stricter pre-qualification criteria have been set to ensure that only serious investors participate in the process.
Both local and international investors will be given at least one month to submit their EOIs. The government plans to sell between 51% to 100% of PIA’s shares, with the assurance that employee protection and service structures will be maintained post-privatisation.
A thorough assessment of PIA’s assets and financial standing is expected to be completed by July 2025. Evaluation of investor applications will continue until September, with the privatisation process targeted for completion by December 2025.
To ensure credibility, only investors meeting multi-year revenue requirements will qualify. The process follows a “Clean PIA” model, with the government already assuming the airline’s debt burden.
With flights to Europe recently resumed, PIA has become a more attractive prospect for investors. Interest is anticipated from Gulf-based entities, Turkish airlines, and other international players.
The federal cabinet has already approved the privatisation plan based on recommendations from the Privatisation Commission.
