US EditionPakistan Approves Four Potential Bidders for Struggling National Airline PIA
PAKISTAN, JUL 8 – Four pre-qualified bidders, including military-backed and industrial groups, will enter a two-month due diligence phase for PIA's stake sale under a $7 billion IMF reform program.
- On Tuesday, the Pakistani government gave the green light to four groups to potentially compete for majority or partial ownership of the national carrier, Pakistan International Airlines.
- The approval is intended to generate funds and restructure the financially troubled PIA as a component of a $7 billion funding arrangement with the International Monetary Fund.
- The approved bidders include two consortia of major industrial firms, the military-backed Fauji Fertilizer Company, and the airline Airblue.
- Privatisation Minister Muhammad Ali announced that the shortlisted candidates will begin the buy-side due diligence process, which is expected to take between two and two-and-a half months.
- The concluding phase of bidding and deal-making is expected to take place during the last quarter of 2025, representing Pakistan's first significant privatisation effort in almost twenty years.
19 Articles
19 Articles
Pakistan's Ambitious PIA Sell-Off: A New Era in Aviation
The Pakistani government has approved several parties, including business groups and a military-backed firm, to bid for Pakistan International Airlines. This move aims to sell a 51-100% stake in the national airline to raise funds and reform state-owned enterprises, marking Pakistan's major privatisation in nearly 20 years.
Govt shortlists four bidders as PIA privatisation gains momentum
The federal government said on Tuesday it had approved four parties, including business groups and a private education operator, to potentially bid for a stake in debt-ridden Pakistan International Airlines. The government has been seeking to sell a 51-100% stake in the struggling national airline to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund programme. It would be th…
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