Karachi Matters Editor
ISLAMABAD: The government has distributed the final draft of bid documents for the privatization of Pakistan International Airlines (PIA) to six pre-qualified bidders, with a signing ceremony set for today. Initial feedback will be gathered as the process moves toward final financial bidding on October 1, involving the sale of a 60% stake in the airline.
Privatization Commission Secretary Usman Bajwa informed the National Assembly Standing Committee on Privatization that earnest money from bidders is due by September 27. Bidders have conducted site visits and participated in pre-bid meetings as part of the preparation process.
Bajwa expressed optimism that the successful bidder would expand PIA’s fleet from 20 to 40-45 aircraft within three to five years. Employee retention and pension entitlements are priorities in the privatization agreement, with assurances provided regarding the ongoing ban on PIA’s profitable European routes.
In related news, Finance Minister Senator Muhammad Aurangzeb voiced confidence in securing IMF board approval for a $7 billion Extended Fund Facility during the “High Level Private Sector Dialogue – CPEC-II and the Region” event. He emphasized the government’s commitment to structural reforms and acknowledged support from China and Saudi Arabia in stabilizing Pakistan’s economy.
