ISLAMABAD: The Privatization Commission has officially pre-qualified four investment groups for the future privatization of Pakistan International Airlines (PIA), as announced during its latest meeting. that the 273rd meeting was chaired by Privatization Minister Muhammad Ali, who also approved the transaction framework for the Roosevelt Hotel deal.
A statement from the commission detailed that five applicants were initially reviewed by the pre-qualification committee. After a comprehensive assessment, four consortia successfully met the criteria and were selected to move forward. The pre-qualified groups include:
Lucky Cement Limited and Hub Power Holdings Limited
Kohat Cement Company Limited and Metro Ventures Limited
Arif Habib Corporation Limited and Fatima Fertilizer Company
City Schools Limited and Lake City Holdings, with Fauji Fertilizer and Airblue also involved in separate consortiums
These groups will now enter the due diligence phase, where their proposals will be scrutinized further. Additionally, the board approved the transaction structure for the Roosevelt Hotel sale, aiming to maximize long-term benefits for the country.
Meanwhile, the commission emphasized that the deadline for submitting bids for PIA’s privatization will not be extended beyond June 19, 2025, maintaining the set timeline. The government has received Expressions of Interest (EOIs) from eight companies, with five formal applications currently on record.
This move aligns with the government’s renewed efforts to privatize the airline, with plans to complete the process by November 2025. Sources suggest that the government intends to sell 50% of PIA shares, attracting interest from both domestic and international investors eager to participate in the sale
