Prime Minister Shehbaz Sharif has mandated expedited completion of Pakistan International Airlines’ (PIA) privatisation process, emphasizing transparency and accountability throughout the transition.
During a high-level meeting focused on the national carrier’s future, the premier outlined comprehensive directives aimed at revitalizing the struggling airline while preparing it for private sector ownership.
Strategic Oversight and Fleet Expansion
The prime minister instructed relevant authorities to develop actionable strategies for expanding PIA’s operational aircraft fleet. Currently operating 18 airworthy planes, the airline targets growth to 38 aircraft by 2029, representing a substantial capacity enhancement over the next four years.
Additionally, the premier stressed improving operational efficiency, particularly regarding flight punctuality and service reliability.
Privatisation Framework
Officials confirmed that four qualified consortiums have successfully passed pre-qualification assessments, with competitive bidding scheduled to commence shortly. The government plans to divest 75 percent of PIA’s equity while maintaining the airline’s iconic brand identity and national character post-transaction.
Expansion Roadmap
PIA currently serves over 30 domestic and international destinations. Under the proposed business strategy, network coverage will extend to more than 40 cities by 2029, strengthening connectivity across key markets.
Government’s Strategic Intent
The meeting included Defence Minister Khawaja Asif, Finance Minister Muhammad Aurangzeb, Law Minister Azam Nazeer Tarar, Federal Minister Ahsan Iqbal, and Privatisation Adviser Muhammad Ali, underscoring the initiative’s national significance.
This renewed privatisation effort follows April’s relaunch of the divestment process, offering between 51-100 percent equity. The transaction forms a critical component of Pakistan’s broader state-owned enterprise reforms, mandated under the $7 billion International Monetary Fund assistance program.
A previous privatisation attempt in 2023 yielded only one bid, falling significantly below the $300 million valuation threshold. The current initiative, supported by strengthened bidder interest, demonstrates renewed commitment toward successfully transferring Pakistan’s flagship carrier to private management.
