The privatization of Pakistan International Airlines (PIA) is scheduled to move forward on December 23, with the incoming investor required to invest Rs80 billion. This was shared during a meeting of the Senate Standing Committee on Privatization.
Officials told the committee that the bidding for PIA will take place on December 23, during which 51 to 100 percent of the airline’s shares will be offered for sale. They added that the selected investor will have to inject Rs80 billion immediately after the privatization, and the entire bidding process will be broadcast live.
The committee was also informed that the privatization of electricity distribution companies will begin next year. In the first phase, three companies ISCO, FESCO, and GEPCO will be privatized. Each company will have its own separate bidding process, and the goal is to complete the privatization of all three by the middle of next year.
In addition, officials briefed the committee on plans to privatize other state-owned entities, including the Guddu and Nandipur power plants. They clarified that if privatization efforts do not move forward, the issue will be brought back to the federal cabinet for further consideration.
