Pakistan Moves To Sell Loss-Making PIA
Pakistan has decided to move ahead with the sale of its national carrier, Pakistan International Airlines (PIA), with bidding scheduled for December 23. The decision comes after an earlier privatisation attempt failed when the only bid received was far below the government’s valuation of the airline.
Majority Stake Up For Sale
The government is offering between 51% and 100% of PIA’s shares, giving potential buyers the option of full control. Four investor groups have been prequalified for the tender. Authorities have announced that the entire bidding process will be broadcast live to ensure transparency.
Airline Burdened By Heavy Losses
PIA has accumulated billions in losses over the past decade, driven by mounting debt, mismanagement, and an ageing fleet. The privatisation push is part of Pakistan’s broader economic reform commitments under its IMF programme, which requires restructuring unprofitable state-owned companies.
Govt Hopes For Revival Under Private Ownership
Officials say the sale is aimed at modernising the airline and restoring its credibility on global routes. Under the terms of sale, the government will not offer any operational or financial guarantees, leaving all post-sale risk with the new owners.
