PIA Airbus at Dubai airport. Photo: PIA website
The bidding for the privatization of Pakistan International Airlines (PIA) will be held on December 23, with Prime Minister Shehbaz Sharif confirming that transparency and profit will remain central to the entire process and announcing that the tender will be broadcast live on national television.
According to Express newsthe Prime Minister met business executives and corporate representatives involved in the transaction and assured them that the process was moving forward smoothly as part of a broader effort to revive the national carrier.
The premier said the national carrier’s lost reputation must be revived through a credible and orderly transition. He added that the reform and divestment process was moving forward in a structured and efficient manner.
He further said that the government was committed to bring PIA in line with modern aviation standards. “InshaAllah, PIA will soon again live up to its old slogan of ‘Great People to Fly With’,” he noted.
Reiterating his commitment to a corruption-free process, the Prime Minister said transparency would be ensured at all stages. “The entire bidding on December 23, 2025 will be telecast live on all media channels so that the nation can see the process firsthand,” he added.
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The Prime Minister said that restoration of PIA’s global routes would greatly benefit overseas Pakistanis by providing reliable connectivity. Modernization of the airline, he said, was also essential to strengthen Pakistan’s tourism sector, which required a competitive and efficient national carrier.
He expressed hope that whichever bidder ultimately takes over would dedicate its “full energy” to restoring the airline’s identity and ensuring its long-term growth. The participants commended the government for adopting what they described as a transparent and professional mechanism for the privatization exercise.
As per the proposed business plan, PIA’s name and branding will remain unchanged after the privatisation. The airline’s fleet is expected to expand from 18 to 38 operational aircraft within four years, with services expected to reach more than 40 cities by 2029.
The government’s renewed push to privatize PIA follows a failed bid last year in which only a Rs10 billion ($36 million) offer from property developer Blue World City was received for a 60 percent stake. The offer, well below the government’s floor price of Rs85 billion ($305 million), was rejected.
The Privatization Commission reopened the process in April, inviting expressions of interest for a 51 to 100 percent stake from both local and international investors. The revamped process attracted interest from eight entities, four of which were shortlisted after federal approval in July, including leading business groups and a private education operator.
The sale of PIA is expected to mark Pakistan’s first major privatization in nearly two decades. Reviving loss-making state-owned enterprises like PIA remains a key structural benchmark under the country’s ongoing $7 billion bailout program from the International Monetary Fund.
