Business Desk 
Apr 10, 2025
An undated image of a PIA plane. — AFP
The government of Pakistan will soon put out fresh bids for the sale of Pakistan International Airlines (PIA). The government's Adviser on Privatisation Muhammad Ali said an official call for expressions of interest (EoIs) would go out in a few weeks with the intention of selling a stake of between 51% to 100% of the troubled national carrier.
This measure is part of a larger scheme to raise capital and reorganise loss-making state-owned companies.
Pakistan to reopen bids for PIA privatisation
It is an important step in a $7 billion programme agreed with the IMF. Pakistan's government had earlier tried to privatise PIA last year but could not get sufficient bids, and there was only one bid received, which failed to impress the government.
In an attempt to silence opposition concerns made over the initial attempt at privatisation, the government now carries nearly all the old debts of PIA, transferring the onus onto its own books. Muhammad Ali ensured that objections brought forward by bidders at the time have now been answered, including tax and balance sheet issues.
“We plan to publish the new Expression of Interest by the last week of April 2025,” Ali said. The government aims to complete the sale of PIA by the end of the year, with a plan to modify pre-qualification criteria and alter the reference price by the airline's revised financial position.
The second attempt at privatisation will hopefully get more serious offers since the government has resolved many of the issues raised in the previous process.
