ISLAMABAD: The Privatisation Commission Board has approved stricter criteria for selling Pakistan International Airlines (PIA). It will invite fresh expressions of interest (EOIs) next week to sell 51% to 100% of the airline’s shares.
Prime Minister’s Adviser on Privatisation, Muhammad Ali, chaired the meeting. Sources say the new EOIs will likely be invited on Wednesday or Thursday.
Stricter pre-qualification rules
The board has tightened the rules for potential bidders. Now, investors must show revenue records for at least three years. The old requirement was Rs200 billion in annual revenue. Experience in the aviation sector is now mandatory. This aims to ensure only capable firms take over the airline.
Officials confirmed these changes improve transparency and credibility. The final plan will go to the federal cabinet before formal bidding begins.
Revised timeline
The privatisation has already seen several delays. The government had earlier promised the IMF to complete the process by July 2025. Now, the Commission aims to finish it by December 2025.
A new advertisement will be published next week to invite EOIs. This will launch the next phase of PIA’s privatisation.
The board will meet again tomorrow to continue discussions.
