ISLAMABAD: Prime Minister Shehbaz Sharif has mandated that the ongoing privatization process of Pakistan International Airlines (PIA) be broadcast live on television and digital platforms to ensure transparency. During a high-level review meeting, he reiterated his government’s commitment to finalizing the privatization by the anticipated deadline.
To boost investor confidence, the Prime Minister directed officials to conduct roadshows and implement a proactive outreach strategy aimed at potential buyers. Meeting participants were briefed on the bidding process, eligibility criteria, and preconditions, as well as an investor outreach plan developed in collaboration with consultants.
Attendees included federal ministers Khawaja Asif, Ahad Cheema, and Attaullah Tarar, as well as Attorney General Mansoor Usman Awan, advisors Muhammad Ali and Syed Tauqir Shah, Minister of State Bilal Azhar Kayani, Special Assistant Haroon Akhtar, and the National Coordinator of the Special Investment Facilitation Council, Lt. Gen. Sarfraz Ahmed.
In a move to attract financially stable bidders, the government has tightened conditions for interested parties and excluded provincial governments from the bidding process. Interested parties have until June 3 to express their interest in acquiring a majority stake in PIA, as highlighted by Muhammad Ali, the Adviser to the Prime Minister on Privatization.
The adviser noted that the government reformed conditions following lessons learned from a previous unsuccessful privatization attempt. Investors are also permitted to modify their lead consortium member up to two weeks prior to the bidding date.
Key details from the revised Expression of Interest (EOI) indicate that the government plans to sell between 51% to 100% of PIA shares, including management control, with hopes of finalizing a deal by the last quarter of this calendar year. The deadline for submitting documents by prospective buyers, excluding federal and provincial governments and their entities, is set for June 3.
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