The government has set a target to complete the privatization of the Pakistan International Airlines (PIA), within the next 2 to 3 months. Several parties have expressed interest in the privatization process.
According to details, the privatization process of PIA has entered its final stages, and so far, five parties have shown interest in the airline, of which four have been declared eligible for scrutiny by the scrutiny committee.
These shortlisted bidders were given access to PIA’s financial and operational records on Tuesday. In this regard, Secretary of the Privatization Commission, Usman Bajwa, briefed the meeting of the National Assembly’s Standing Committee on Privatization, chaired by Member of the National Assembly Dr. Farooq Sattar.
Usman Bajwa stated that the government’s goal is to complete PIA’s privatization by the last quarter of 2025. However, he emphasized that no decision will be made until investors are fully satisfied. According to Secretary Usman Bajwa, the successful bidder will be required to expand PIA’s fleet from the current 19 aircraft to at least 45 aircraft.
The committee’s chairman and members stressed the importance of protecting the jobs of PIA employees and demanded a job guarantee of 3 to 5 years, stating that employee welfare should be a top priority.
On this occasion, the Secretary of the Privatization Commission assured the parliamentarians that employee protection has been considered in the privatization agreement. He added that the airline’s workforce has already been reduced from 11,000 to 6,000.
He further mentioned that prominent business groups in Pakistan have shown strong interest in the airline, as they have the capital to improve operations, and regional airlines have also been invited to participate in the bidding process.
