Business Desk 
Jul 12, 2025
Pakistan is getting closer to privatising its struggling national airline, Pakistan International Airlines (PIA), as four shortlisted investor groups are set to begin the due diligence process next week.
The due diligence exercise is an important step in understanding PIA’s business, and it will prepare bids for the final stage. This is also part of the government plan to improve the aviation business and bring in private investment into state-owned companies.
The due diligence exercise will take place in Karachi at the PIA headquarters. Representatives from the four investor groups will receive an in-depth briefing on the airline’s fleet size, its routes (international and domestic), employees, income, and pressures it faces.
Officials say this process allows bidders to have all the information to allow them to understand completely and appreciate how the airline operates.
The government has instructed PIA’s management to fully cooperate and generate all records and data they require for the effort.
Moreover, the due diligence process towards fully privatising PIA will allow the deals to be competitive and transparent and provide the investors with live facts to assess their investment decision. The due diligence exercise will include the use of PIA’s business implementation plan and access to financial records.
On July 8, the Privatisation Commission shortlisted four potential buyers. Two of them are consortia:
- Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures
- Arif Habib Corporation, Fatima Fertilizer, City Schools, and Lake City Holdings
- The other two bidders are Fauji Fertilizer Company and Air Blue (Pvt.) Ltd
