- Provincial govt’s can’t bid for PIA, says PM’s aide.
- Says firms participating in PIA bidding must have Rs30bn.
- PM’s aide says PIA employees future is safe.
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed the concerned authorities to ensure transparency in the privatisation process of Pakistan International Airlines (PIA) within the given time frame.
The development came a day after the federal government officially invited expressions of interest (EOIs) from potential investors for the privatisation of PIA, marking a major development in its bid to offload a controlling stake in the national flag carrier.
According to the Privatisation Commission, the decision was made to sell between 51% and 100% of PIA shares, along with management control, to the prospective buyer. Interested parties have until June 3, 2025, to submit their EOIs.
Chairing a meeting to review the ongoing process of privatisation of the national flag carrier today, PM Shehbaz stressed that transparency must be central to the procedure for the privatisation of the airline.
He also directed the relevant authorities to ensure the privatisation within the given time frame. Emphasising the importance of roadshows and fully engaging investors in the privatisation process, the premier directed that in order to ensure transparency, the privatisation and all future state-owned enterprises must be broadcast live on television and digital platforms.
The meeting was told that a comprehensive investor outreach strategy had been developed in collaboration with the consultant and was being fully implemented.
The prime minister was also informed about the criteria of the bidding, the required time period and the conditions to participate in the bidding process.
During his interaction with the media following the meeting, Adviser to the Prime Minister on Privatisation Muhammad Ali assured that the future of around 6,900 employees of the national airline was safe.
“We have learnt from the past mistakes,” he said, adding that the bidders would be given a 60-day time to review accounts.
“The bidding company for the national airline must have a revenue of Rs200bn in 2 years,” he said, adding that the companies participating in the bid must have Rs30bn in cash or shares.
He further said that the 18% GST imposed on the lease or purchase of aircraft had been abolished.
The adviser clarified that no provincial government can take part in the privatisation process of the PIA.
