Farmane-Ilahi

ISLAMABAD (92 News) In a major push for the privatisation of Pakistan International Airlines (PIA), the federal cabinet approved the sale of the airline’s 51-100 percent shares and also greenlit the transfer of administrative control of PIA to the buyer along with the deal.

The federal cabinet approved the summary of the PIA transaction of the Committee for Privatisation, and a new “Expression of Interest” (EOI) will be published in international and local newspapers to attract foreign investors.

The cabinet also approved the IMF’s consent to two important conditions related to the privatisation of PIA, while the federal cabinet directed to start the second phase of privatisation.

The sale of shares will be done in three possible ways: sale of shares from the holding company, fresh subscription, or a combination of both methods, with PIA’s financial advisor’s proposals presented in the PC board meeting on March 17, 2025.

After the failure of the first privatisation attempt, the decision to try again was taken to save the national exchequer from losses, following three important meetings related to PIA privatisation held on December 24, January 14, and February 11.

According to the Cabinet Committee on Privatisation, the final terms will be decided during the bidding process, which may be different from the previous one.