The Ministry of Privatisation in Pakistan has initiated the process of seeking bids from potential buyers for the privatisation of Pakistan International Airlines (PIA) by the deadline of May 3rd.
Officials from the privatisation ministry have indicated that prior to its privatisation, the losses and loans of PIA have been transferred to a separate holding company.
The government’s intention is to privatise the aviation division of PIA, offering 51% of the national flag carrier’s shares for sale, while retaining 49% ownership.
Under this arrangement, the administrative control of PIA will also be transferred to the entity purchasing the majority shares, as per officials.
Earlier reports suggested interest from three Gulf countries—United Arab Emirates, Saudi Arabia, and Qatar—in acquiring the financially strained Pakistan International Airlines.
Sources familiar with the matter revealed that companies from these Gulf nations have engaged with the Pakistani government to explore potential deals involving the national flag carrier.
It’s been indicated that Pakistan International Airlines will be sold to the highest bidder once the privatisation process reaches its conclusion.
