PIA privatisation set for December 23, Commission confirms

ISLAMABAD (Dunya News) – The Privatisation Commission has confirmed that the privatization of Pakistan International Airlines (PIA) will be completed on December 23, with all matters finalised by December 19, officials said Thursday.

While briefing the Senate Standing Committee on Privatisation, Secretary Usman Bajwa said the investor buying PIA will not have to pay sales tax on new aircraft purchases. He added that unlike the previous attempt, the investor will not be responsible for FBR dues of PKR 2.66 billion and Pakistan Aviation’s PKR 700 million.

Bajwa further noted that 51% to 100% of PIA shares will be sold. Unlike the last attempt, routes to Britain and Europe are now open, and the investor will be required to invest PKR 8 billion immediately after privatization. He added that final commercial terms with investors will be settled by Thursday night, and bidders must deposit PKR 200 million as earnest money to participate.

Officials said these measures aim to smooth the process and attract serious investors, ensuring a successful privatisation of the national airline.