Prime Minister Shehbaz Sharif on Wednesday said that the tender for Pakistan International Airlines (PIA) will be held on December 23 with a live broadcast to the media.
The government has been searching sell a 51 to 100 percent stake in the struggling national airline to raise funds and reform cash-draining state-owned enterprises, as envisioned in a $7 billion program by the International Monetary Fund (IMF).
It would be the country’s first major privatization in almost two decades. Four bidders have been pre-qualified for the sale: Lucky Cement Consortium, Arif Habib Corporation Consortium, Fauji Fertilizer Company Limited and Air Blue Limited.
According to a press release published on X by state broadcaster PTV News, the prime minister held a meeting with all corporate entities and representatives of companies involved in the privatization process of the national airline.
“The PIA tender will take place on December 23, 2025 and will be broadcast live on all media,” the prime minister said in a statement.
He said the process is progressing smoothly to restore the “lost prestige” of the national airline and align it with modern requirements.
“Soon, PIA will once again live up to its tradition of ‘Great People to Fly With.’
“We are ensuring transparency and merit in the PIA privatization process,” he said.
The prime minister said restoration of PIA flights across the world would provide convenience to overseas Pakistanis and emphasized that aligning it with modern requirements was “extremely essential” for the development of the tourism sector.
“I am hopeful that any of you who take on this important responsibility after the tender will focus all your energies on restoring the prestige of the national airline and its development,” the prime minister said.
The statement added that participants “praised the professional and transparent approach taken by the government” throughout the process.
In September a parliamentary committee was informed that Pakistan International Airlines Corporation Limited was expected to be privatized for November. Chief Minister Shehbaz had directed authorities on November 20 to expedite and complete all phases of the process. privatization with complete transparency.
But this was not met and last week, the National Assembly’s Standing Committee on Privatization sought a clear timeline for completing the ongoing bidding process and ordered that the process be expedited.
PIA, once a leading global airline, resumed European flights in January after a four-year EU ban linked to security concerns.
An earlier attempt to sell the airline failed because a $36 million bid from real estate firm Blue World City did not meet the minimum price of $305 million, due to concerns about debt, staffing and limited control.
