Major transformation coming to PIA—bidding process revealed!
The bidding process for the privatisation of Pakistan International Airline (PIA) is scheduled to take place on October 1, 2024.
This decision was announced during a meeting of the Standing Committee on Privatization of the National Assembly, chaired by Farooq Sattar. The final approval of the bids will be sought from the federal cabinet.
In his briefing, the Secretary of the Privatisation Commission revealed that the PIA privatisation process commenced in November 2023 and has now reached its concluding stages, with investor preparations for bidding nearly complete.
He stressed that the successful bidder will be required to invest between 65 to 70 billion rupees and increase PIA’s fleet from 18 to 45 aircraft within a span of three years.
The Secretary further clarified that while PIA’s existing staff will be retained for a period of two to three years, any changes to the airline’s routes will necessitate government approval.
These stipulations are integral to the agreement that will be established with the winning bidder, and discussions are ongoing regarding the lifting of a European ban on PIA, with steps being taken to facilitate the resumption of flights to Europe.
