PIA’s New York and Paris Hotels not included in privatisation deal, adviser says

The Prime Minister’s Adviser on Privatisation, Muhammad Ali, has said that Pakistan International Airlines’ hotels in New York and Paris are not part of the privatisation process.

Speaking to Geo News, Muhammad Ali said the government had expected bids of up to Rs120 billion for the national airline, adding that the final bid was favourable for both the government and the buyer. He said Rs125 billion would go to PIA.

He stated that 18 PIA aircraft are currently operational and that successive governments had been trying to privatise the national carrier for several years.

With the consortium now successful, he said, it would not be difficult for it to find partners.

The adviser reiterated that PIA’s hotels in New York and Paris are excluded from the deal. He added that airports in Lahore, Islamabad and Karachi would be offered through open auctions.

He said further progress on privatisation is expected in 2026 and that, following privatisation, the government is likely to receive more in taxes than it was earning from these entities previously.

Muhammad Ali said improvements would not be possible without privatisation in the energy sector.

He expressed satisfaction with the privatisation of the national airline, describing it as having been concluded at a good price.