PIA privatization to be finalized in 60-90 days, NA committee informed

Liaquat Ali

Islamabad: The National Assembly’s Privatization Committee was briefed on the privatization of Pakistan International Airlines (PIA) Monday.

The Secretary of the Privatization Commission announced that the process is expected to be completed within 60 to 90 days. The government plans to retain 15 percent of PIA’s shares, while the remaining 85 percent will be offered for privatization, the secretary informed the committee.

During the meeting, Committee Chairman Farooq Sattar emphasized the need to safeguard the interests of PIA employees during the transition. He urged that employees be given a three-to-five-year period to adapt to the changes and stressed that their welfare must be prioritized as part of the privatization process.

Earlier, the Privatization Commission Board pre-qualified four investors for Pakistan International Airlines (PIA) in its meeting. Privatization Minister Muhammad Ali chaired the 273rd meeting of the board.

According to a statement issued, the pre-qualification committee reviewed applications from five potential investors, with a thorough evaluation leading to the selection of four qualified companies.

The pre-qualified consortia include Lucky Cement Limited and Hub Power Holdings Limited in the first group, Kohat Cement Company Limited and Metro Ventures Limited in the second, Arif Habib Corporation Limited and Fatima Fertilizer Company in the third, alongside City Schools Limited and Lake City Holdings, while Fauji Fertilizer features in the third consortium and Airblue in the fourth.