Govt to open EOIs for PIA Privatization from April 24

ISLAMABAD: The federal government has announced plans to invite Expressions of Interest (EOIs) for the privatization of Pakistan International Airlines (PIA) starting April 24.

According to the Privatization Commission, the pre-qualification criteria for potential buyers have been tightened to ensure that only serious and qualified investors participate in the bidding process. Local and international parties will have at least a month to submit their EOIs.

The government aims to offload its 51% to 100% stake in the national carrier. It has also assured that employee rights and the existing service structure will be preserved after the privatization.

A comprehensive assessment of PIA’s assets and financial position is expected to be finalized by July 2025. Investors’ applications will be reviewed by September, with the entire privatization process likely to be completed by December 2025.

To strengthen credibility, only investors who meet multi-year revenue benchmarks will be eligible to participate. The move follows the “Clean PIA” model, under which the government has already paid off the airline’s debt.

With the recent resumption of PIA’s flights to Europe, investor interest is expected to increase, especially from Gulf companies, Turkish Airlines, and other international aviation entities.

The federal cabinet has formally approved the privatization strategy, following the recommendations of the Privatization Commission.