Four parties pre-qualify for PIA’s privatisation bid

The privatisation of Pakistan International Airlines (PIA) has entered an advanced stage, as four parties have prequalified to bid for the national carrier, the Privatisation Commission revealed during a National Assembly Standing Committee on Privatisation meeting chaired by Farooq Sattar.

According to the 24NewsHD TV channel, out of five interested parties that submitted Statements of Qualification (SOQs), four have now been granted access to PIA’s virtual data room starting tomorrow, where they will review commercial, legal, and financial documents.

PIA's CEO told the committee that detailed briefings will be provided regarding PIA’s financial statements and properties, after which these parties will be allowed to submit final bids.

He briefed the committee that efforts are underway to complete the privatisation process by the final quarter of this year.

The CEO added that after 21 years, PIA has become profitable again, while its fleet age is currently 18.5 years, and this fleet is expected to double in the next five years.

PIA's CEO stated that PIA currently operates 19 aircraft, and a tender has already been issued to replace passenger seats.

He also told the committee that discussions are ongoing to retain PIA employees for at least 18 months post-sale. He added that PIA has 6,700 employees, including 20% excess staff.

He said the Privatisation Commission aimed to complete due diligence within 60–90 days, acknowledging that any longer timeframe would be impractical.

During the briefing, Chairman Farooq Sattar commented that the Punjab Chief Minister Maryam Nawaz had expressed interest in purchasing PIA, suggesting that she should have been given a fair chance.

Reporter: Waqas Azeem