Islamabad: The federal government has once again accelerated efforts to privatize Pakistan International Airlines (PIA) by issuing a new advertisement.
The government has released a call for bids for PIA’s privatization, inviting expressions of interest starting today.
According to the Privatization Commission, expressions of interest can be submitted until June 3. Both local and international investors will be given a minimum of one month to apply.
The Privatization Commission stated that the federal government intends to sell between 51% to 100% of PIA’s shares. Currently, PIA operates 268 flights per week, and management control will also be transferred to the private sector as part of the privatization process.
The commission further mentioned that the Government of Pakistan remains the majority shareholder in PIA, which continues to operate successfully on profitable routes. Privatization is expected to contribute to the airline’s growth.
