PIA privatization expected to reach final stages early next month

Karachi: The privatization of Pakistan International Airlines (PIA) is expected to reach its final stages at the beginning of next month.

According to BOL News, four companies have shown interest in acquiring PIA: Arif Habib Limited, Fauji Fertilizer Company, Airblue, and the Lucky Group.

These companies have reportedly requested the government to ease certain terms and conditions related to the privatization process.

Sources indicate that the national airline’s name will not be changed, and the national flag will continue to be displayed on the aircraft.

Additionally, it has been confirmed that PIA’s ownership will remain with Pakistani citizens. No foreign individual or entity will be allowed to participate in the bidding process as a majority shareholder.

Earlier, the Privatization Commission Board approved the pre-qualification of the four investors, while the Cabinet Committee on Privatization also endorsed the transaction structure for the Roosevelt Hotel as part of the government’s wider privatization agenda.