ISLAMABAD – The privatization of state-owned Pakistan International Airlines (PIA) continues as major business groups show interest in overtaking the carrier.
Federal Minister for Privatisation and Investment, Abdul Aleem Khan confirmed on Friday that eight major business groups have expressed interest in acquiring the national carrier.
The interested entities include Fly Jinnah (represented by Arif Habib Corporation), Shonksi China CIG Ltd, Jiri International Pvt Ltd, Airbloom Limited, Younis Brothers Holdings Consortium, Pak Ethanol Consortium, and Blue World City Consortium; the groups have submitted their Statements of Qualification and Expressions of Interest within the stipulated time.
As the interested parties have submitted the documents, the Privatization Commission will conduct a pre-qualification process as per the Privatization Commission Ordinance rules, and those found suitable will be taken to the next phase of privatization.
The federal government had extended the deadline till May 17th for interested parties to submit Expression of interest.
It is to be highlighted that the decision to privatize the national carrier was made during the previous caretaker regime headed by Anwar Ul Haq for which the government had hired a consultant who had submitted a comprehensive report in this regard.
As far as the timeline is concerned, the incumbent government has reiterated to complete the process by June this year; however, there could be some delay in the completion of the process.
Meanwhile, the government has also decided to outsource three airports in the country i.e. Allama Iqbal International Airport, Jinnah International Airport Karachi, and Islamabad International Airport; the process to outsource the airport in Islamabad is already underway with plans to outsource the facility for 15 years.
