Govt to Invite Fresh Bids for PIA Privatization Next Week

The government is set to issue a new advertisement next week inviting fresh bidders for the privatization of Pakistan International Airlines (PIA), according to a statement released by the privatization ministry on Wednesday. An earlier attempt to privatize the national airline ended in failure, costing the government $4.3 million, the National Assembly Standing Committee on Privatization was told during a session on February 26. In March, Privatization Minister Abdul Aleem Khan stated that the government aims to finalize all necessary steps for PIA’s privatization by May. The privatization commission has since approved a new transaction structure for the process, which includes selling off between 51 and 100 percent of the airline’s shares. The ministry’s statement noted that a meeting of the privatization commission took place today, chaired by Muhammad Ali, the commission’s chairman and Adviser to the Prime Minister on Privatization. “The Board approved the pre-qualification criteria for selection of potential bidders for privatization of 51 percent to 100 percent shares of Pakistan International Airlines Corporation Limited (PIACL),” the statement read. “A fresh advertisement for expression of interest for the demerger of PIACL is planned to be published next week.” It also mentioned that the meeting is scheduled to resume tomorrow “to consider the remaining items on the agenda.”