Govt extends PIA privatisation deadline by two weeks

The federal government has extended the deadline for submitting expressions of interest (EoIs) in the privatisation of Pakistan International Airlines (PIA) by two weeks, the Privatisation Ministry announced on Tuesday.

The new deadline is now June 19, instead of the original June 3. The ministry did not specify the reason for the extension or reveal whether any EoIs had been submitted so far. The government is offering a 51% to 100% stake in the struggling national carrier.

This marks the second attempt to privatize PIA after a failed effort last year, where only one bid was received—far below the $300 million asking price. The airline, burdened with debt, recently reported its first annual profit in over two decades in April.

Read: PM Shehbaz Sharif orders live broadcast of PIA privatisation

The privatization is part of broader economic reforms under Pakistan’s IMF-backed program. Analysts say attracting credible investors remains a challenge due to PIA’s financial liabilities and operational issues.

The extension suggests authorities are seeking stronger investor interest, but uncertainties persist over the airline’s valuation and privatization terms.