On July 8, 2025, Pakistan’s Privatisation Commission Board approved four entities to bid for a 51-100% stake in Pakistan International Airlines (PIA), a national carrier burdened by over $2.5 billion in losses over the past decade. The approved bidders include a consortium led by Lucky Cement, another led by Arif Habib Corp, Fauji Fertilizer Company, and Airblue. This move aligns with Pakistan’s efforts to reform state-owned enterprises under a $7 billion IMF program aimed at stabilizing the economy.
The selected bidders will now conduct due diligence, expected to take two to two-and-a-half months, with final bids and negotiations slated for the fourth quarter of 2025. The privatization process also includes PIA’s Roosevelt Hotel in New York, with the Cabinet Committee on Privatisation approving a joint venture model for its potential sale or long-term lease. Posts on X show mixed sentiments, with some users hopeful about PIA’s revival through private investment, while others express skepticism about the transparency of the process.
This follows PIA’s recent milestone of posting its first operating profit in 21 years through June 2024, after resuming European flights in January following a four-year safety-related ban. The government aims to attract investment and reduce financial strain through this privatization effort.
Published in SouthAsianDesk, July 9th, 2025
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