PIA privatisation back on track as govt plans new bids

The federal government has announced plans to invite fresh bids for the privatisation of Pakistan International Airlines (PIA) following concerns over the significantly lower offers received in the initial bidding process.

The decision was revealed during a meeting of the Senate Standing Committee on Privatisation, chaired by Senator Talal Chaudhry, where the reasons behind the lack of investor interest and below-benchmark bids were extensively discussed.

Federal Minister for Privatisation Abdul Aleem Khan stated that PIA’s re-privatization process is underway, with Prime Minister Shahbaz Sharif placing significant focus on the matter.

“PIA has the potential to become a profitable institution. However, the government must take bold decisions to facilitate its privatization,” Khan remarked.