Business Desk 
Dec 17, 2025
As the December 23 auction approaches, the privatisation of Pakistan International Airlines (PIA) has entered its final phase, with all four bidding consortia seeking detailed daily operational records from the airline and the Privatisation Commission.
Reportedly, representatives of the four consortia met PIA Chief Executive Officer Air Vice Marshal Amir Hayat on Saturday to review the airline’s operational and financial position.
The bidders were briefed on PIA’s domestic and international routes, workforce details, and other key data required ahead of the bidding process.
Importantly, the sources said the pension liabilities of the retired PIA employees will not be transferred to the buyer, removing one of the major concerns that had previously kept investors away.
Records related to both current and retired employees have already been shared with the bidders.
The Prime Minister’s Secretariat has directed PIA management to fully cooperate with the bidding groups and ensure timely provision of all required information as the auction date nears.
A week ago, Prime Minister Shehbaz Sharif announced that the entire bidding process would be broadcast live and that it would be conducted in a transparent and merit-based manner, hailing these principles as the government’s top priority.
In a statement, the Prime Minister’s Office said the privatisation process was going on smoothly and was aimed at restoring PIA’s “lost glory” and bringing the national flag carrier up to par with modern aviation standards.
An earlier attempt to privatise PIA was abandoned after a $36 million bid fell significantly short of the $305 million floor price amid concerns over debt, staffing levels and limited management control.
This time around, the government is offering full divestment, has waived sales tax on leased aircraft, has transferred around 80% of the airline's debt to the state and is offering limited protection against legal and tax claims.
