Govt to Invite EOIs for PIA Privatization from April 24

The federal government has announced plans to invite Expressions of Interest (EOIs) for the privatization of Pakistan International Airlines (PIA) starting April 24. According to the Privatization Commission, the pre-qualification criteria for prospective buyers have been made more stringent to ensure only serious and capable investors take part in the bidding process. Both local and international parties will have a minimum of one month to submit their EOIs. The government aims to offload between 51 percent to 100 percent of its shares in the national carrier. It has also assured that employee rights and existing service structures will be preserved following privatization. A comprehensive valuation of PIA’s assets and financial position is expected to be finalized by July 2025. Investor applications will be assessed through September, with the entire privatization process projected for completion by December 2025. To strengthen credibility, only those investors who meet multi-year revenue benchmarks will be eligible to qualify. The initiative follows the “Clean PIA” model, under which the government has already absorbed the airline’s debt. With PIA’s recent resumption of flights to Europe, investor interest is expected to rise, particularly from Gulf-based firms, Turkish airlines, and other international aviation entities. The federal cabinet has formally approved the privatization strategy, acting on the Privatization Commission’s recommendations.