Govt to complete PIA privatisation within three months: minister

Minister for Investment and Privatisation Abdul Aleem Khan announced on Thursday that the government aims to complete the privatisation of Pakistan International Airlines (PIA) within the next three months.

In a statement, the minister assured that all concerns raised by interested parties had been addressed. He added that adjustments had been made to align with investors' preferences, making the privatisation process more attractive.

A new roadmap has been introduced to facilitate a smooth transition, with expectations of increased investor interest due to the resumption of PIA’s flights to Europe.

Khan also revealed that flights to the UK would resume within three months, followed by planned expansions to the US and the Far East.

He expressed confidence that PIA could regain profitability and credibility through privatisation.

The government plans to invite expressions of interest (EoIs) in March, aiming to complete the transfer before the fiscal year ends.

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Previous privatisation attempts stalled due to investor concerns, but key obstacles have now been removed.

Additionally, the IMF has waived an 18% general sales tax on new aircraft purchases and allowed the government to absorb PIA’s Rs45 billion negative equity.

The privatisation commission also reviewed PIA’s domestic and overseas assets, including the Roosevelt Hotel in New York.