ISLAMABAD — Pakistan has taken a major step forward in the privatisation of its loss-making national airline, Pakistan International Airlines Corporation Limited (PIACL), as three pre-qualified bidders submitted sealed bids on Tuesday. The bidders include Lucky Cement, private airline Airblue, and investment firm Arif Habib.
The bids were submitted during a public ceremony in Islamabad, broadcast live on state television, where representatives of each group deposited their sealed offers into a transparent box. The move reflects the government’s emphasis on transparency in what is being described as the most significant privatisation transaction in Pakistan’s history.
Following the submission, the reference price for PIACL will be reviewed and approved by the Privatisation Commission Board and the Cabinet Committee on Privatisation. The bids are scheduled to be opened later in the day in the presence of bidders, after which final prices will be announced and the process concluded under agreed terms.
Adviser to the Prime Minister on Privatisation, Muhammad Ali, expressed optimism about the outcome, saying he hoped the process would attract strong investment and lead to a successful sale. He is also set to brief the media after the bidding concludes.
Prime Minister Shehbaz Sharif, addressing the federal cabinet, praised officials involved in the process and reiterated that the privatisation is being conducted transparently. He highlighted that sealed bids, live telecasts, and cabinet oversight are key safeguards built into the process.
This marks Pakistan’s second attempt to privatise PIA after a previous auction collapsed last year due to a single bid falling well below the government’s reference price. To ensure clarity in management control, the government has stipulated that unsuccessful bidders will not be allowed to join the airline’s future management, while companies not part of the current bidding—such as Fauji Fertiliser Company—may still join later if desired.
The outcome of the bidding is expected to shape the future of Pakistan’s aviation sector and signal the government’s seriousness about reforming state-owned enterprises through transparent and competitive privatisation.
