PIA privatisation: EoIs due today for up to 100% stake
Expressions of Interest (EoI) for up to a 100% stake in Pakistan International Airlines (PIA), the national flag carrier, are due today (Thursday).
PIACL, a public limited company, is the flag carrier airline of Pakistan. The Government of Pakistan (GOP), through PIA Holding Company Limited, owns approximately 96% of the issued capital of PIA.
PIA is a full-service airline, providing aviation services supported by its ancillary segments. In the last financial year, PIA served approximately 4 million passengers across 30 destinations, carrying out 268 flights per week.
The government extended the deadline to submit EoI for buying Pakistan International Airlines Corporation Limited (PIACL) until June 19, 2025, from the earlier June 3 deadline, with all terms and conditions remaining the same.
'The deadline for submission of Expressions of Interest and Statements of Qualification for 'Divestment of Pakistan International Airlines Corporation Limited through privatisation' has been extended till 16:00 hours on Thursday, 19th June, 2025. The remaining terms and conditions shall remain the same,' read the advertisement back then.
The government has been seeking to sell a 51-100% stake in the debt-ridden carrier to raise funds and reform cash-draining, state-owned enterprises (SOEs) as envisaged under a $7 billion International Monetary Fund programme (IMF).
It failed in the first attempt to privatise the PIA last year after receiving a single offer, well below the asking price of more than $300 million.
Blue World City consortium refused to match the minimum expectation of the Privatisation Commission of Rs85.03 billion and stuck to its original offer of Rs10 billion for a 60% stake in the PIA, ending the bidding process of the national flag carrier's privatisation.
Days ago, Fauji Fertilizer Company Limited (FFC), one of Pakistan's largest fertilizer manufacturers, formally expressed interest in acquiring shares of PIA.
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