Four companies remain in race in PIA privatization
The privatization of Pakistan International Airlines (PIA) is expected to conclude by November 2025, the Senate Standing Committee on Privatization was informed on Tuesday.
The Privatization Commission secretary said four
companies remain in the race through consortia involving international
carriers, while two applicants were disqualified for failing to meet
eligibility criteria.
Senator Zeeshan Khanzada voiced concern over PIA’s mounting liabilities, pointing out the airline’s debt has reached Rs650 billion. He suggested that PIA’s two hotels be sold to ease the financial burden.
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Committee Chairman Senator Dr Afnan Ullah Khan endorsed further discussion on debt management, saying asset sales could provide partial relief while the airline’s privatization process moves forward.
Lawmakers also debated the government’s broader
strategy of prioritizing profitable entities for sale. Senator Khanzada
questioned the approach, arguing that divesting profitable firms could create
operational challenges down the line.
Responding, the Privatization Commission secretary explained that investors are naturally drawn to profitable businesses. He stressed that even if such firms were sold at no cost, the wider economic benefits would outweigh concerns.
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established to expedite privatization of Pakistan International Airlines (PIA)
The committee also reviewed other privatization initiatives, including power distribution companies (Discos), generation companies (Gencos), and the Pakistan Minerals Development Corporation (PMDC), which are being evaluated to attract foreign investment.
Source:
Times of Karachi