ISLAMABAD: The government has taken a major step for the privatization of PIA by deciding to invite expressions of interest (EOIs) from local and international investors from April 24, 2025.
Sources confirmed that the government will give investors at least one month to submit their applications. In this process, the government will offer 51% to 100% of PIA’s shares for sale. Officials have promised that they will protect employee rights and maintain the existing service structure. Last year, privatization of PIA was started but then it ended up in an a deadlock.
The Privatization Commission will complete a detailed evaluation of PIA’s assets and overall value by July 2025. It plans to finish reviewing the submitted applications by September and aims to complete the final privatization phase by December 2025.
This time, the government will allow only serious and eligible investors to pre-qualify. To enforce this, it is tightening the selection criteria. Investor companies will need to prove their eligibility by showing multi-year revenue records.
With PIA resuming flights to European destinations, the airline has become more attractive to foreign investors. Besides local interest, airlines from Gulf states and a major Turkish carrier are also expected to express interest.
To facilitate smooth investment, the government has adopted a “Clean PIA” model and taken over all of PIA’s debts. The federal cabinet has already approved the renewed privatization plan based on the Privatization Commission’s recommendations.