ISLAMABAD:The deadline for submitting expressions of interest (EoIs) for the privatization of Pakistan International Airlines (PIA) has been extended to June 19, 2025, to accommodate potential investors, particularly during the Eidul al-Adha holidays. The Privatisation Commission confirmed the extension, emphasizing that the sale will target private buyers exclusively, with roadshows planned in the Middle East to highlight PIA’s recent profitability and operational improvements .
Meanwhile, the National Assembly’s Standing Committee on Privatization raised serious concerns over the withholding of Rs48 billion owed to Pakistan Postal Life Insurance Company. During a meeting chaired by Dr. Farooq Sattar, company officials revealed that the funds were transferred to the Finance Ministry in 2021 under FATF conditions, but only Rs7 billion has been released over four years, leaving 200,000 clients without pensions for four years. The committee unanimously demanded immediate repayment, with member Khawaja Shiraz Mahmood proposing a direct appeal to the Finance Minister .
On PIA’s privatization, Secretary Usman Bajwa assured the committee that if investor concerns are addressed, bidding could conclude within two months. The airline’s recent financial turnaround—posting its first profit in 21 years—has boosted confidence, though regulatory scrutiny remains over its surging share prices .
The committee also reviewed losses at power companies PESCO (35%) and HESCO (43%), directing both to achieve profitability before privatization. The discussions underscored broader reforms tied to Pakistan’s IMF commitments, including the divestment of state-owned enterprises .
