Pareesa Afreen 
Nov 27, 2025
An undated image of a PIA plane. — AFP
The government of Pakistan plans to hold the final bidding for Pakistan International Airlines (PIA) by mid-December. Four pre-qualified consortia are in advanced negotiations over commercial terms, the Secretary of the Privatisation Division told the National Assembly’s Standing Committee.
The talks with the shortlisted bidders will centre around share purchase and shareholders' agreements. The federal cabinet will approve the reserve price ahead of the bidding. Pre-bid negotiations have been underway for the last three days.
The four prequalified bidders include Fauji Fertilizer Company Ltd, Air Blue (Pvt) Ltd, a consortium of Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures, and a group led by Arif Habib Corporation along with Fatima Fertiliser, City Schools, and Lake City Holdings. AKD Group Holdings (Pvt) Ltd was recently approved for inclusion in the Arif Habib-led Consortium.
Committee Chairman Farooq Sattar emphasised the need to protect jobs and pensions. “The airline has to be sold, but employee protection must be guaranteed,” he said.
The committee recommended at least five years of job security for PIA staff and full safeguards for pensioners.
To date, the airline operates 18 aircraft and needs 35 to 38 more to sustain its operation. Any future owners are likely to retain experienced staff.
Officials also updated the committee on the privatisation of Pakistan Engineering Company (Peco) and the status of the Roosevelt Hotel in New York.
Meanwhile, the Ministry of Industries confirmed that all pending dues of Utility Stores employees have been cleared.
