Business Desk 
Jun 17, 2025
Pakistan International Airlines (PIA) passenger plane sits on tarmac, as seen through a plane window, at the Islamabad International Airport, Islamabad, Pakistan October 27, 2024. — Reuters
Amid the government struggling to privatise the loss-making national flag carrier, employees of Pakistan International Airlines (PIA) have officially submitted a joint bid to acquire it.
Entering the competitive bidding process ahead of the June 19 deadline, the PIA employees submitted their expressions of interest, Geo News reported, citing officials from the Privatisation Commission.
The joint bid was filed by Hidayatullah Khan, president of the CBA-affiliated People's Unity, and Aqeel Siddiqui, head of the PIA Senior Staff Association (Sasa). These employee groups purportedly asserted their right to be prioritised in the purchase, especially given the federal government failing with the PIA privatisation and having committed an unsuccessful attempt.
In addition to the employee bid, Fauji Fertiliser Company Limited (FFC) also announced that it has submitted an Expression of Interest (EoI) and prequalification documents to acquire a stake in Pakistan International Airlines Corporation Limited (PIACL).
The bid was approved by the FFC board on June 13, which is planning to conduct thorough due diligence as the government aims to sell 51%-100% of its shares to support its $7 billion IMF-backed reform programme.
The move comes as the government extended the deadline for PIA privatisation bid to June 19 on the heels of a botched attempt last year, which only attracted one bid which was way below the Rs85 billion asking price.
Other renowned business groups, including Mian Mansha Group and Arif Habib Group, have also shown interest in acquiring the struggling national airline.
To note, the PIA's privatisation is part of the government's efforts to offload loss-making state-owned enterprises and stabilise public finances amid ongoing economic challenges.
