In line with an International Monetary Fund (IMF) agreement, the Pakistani government has announced that the final auction for the struggling Pakistan International Airlines (PIA) will take place on October 30.
This announcement was made during a session of the National Assembly, addressing concerns from Sharmila Farooqi of the Pakistan People’s Party (PPP), which has historically opposed the privatization of state-owned airlines.
Parliamentary Secretary for Communications Gul Asghar confirmed that the auction, initially set for October 1, was postponed due to low bidder interest and challenges related to litigation, the airline’s aging fleet, and civil aviation matters. Asghar mentioned that the privatization process, led by Minister for Privatization Aleem Khan, began in February 2024 and is now nearing completion.
Asghar further explained that PIA’s operational assets have been separated for the auction, which will involve six pre-qualified consortia competing for a 60% stake in the airline. Among the interested parties are Fly Jinnah Ltd, Air Blue Ltd, and others.
In a related discussion, Minister of State for Finance and Revenue Ali Pervaiz Malik reassured that no restrictions have been imposed on industries importing raw materials since the finalization of the IMF program. He emphasized the government’s focus on boosting exports and improving business competitiveness.
Malik also highlighted a decline in inflation, which may enhance purchasing power, while acknowledging ongoing efforts to mitigate rising electricity costs for citizens. Additionally, Parliamentary Secretary for Commerce Zulfiqar Ali Bhatti reported significant tariff reductions under the National Tariff Policy 2019, aimed at supporting industry and trade.
In other assembly discussions, progress on the Greater Karachi Bulk Water Supply Scheme K-IV was noted, with completion expected next year and substantial funding already allocated. The assembly also passed the Legal Aid and Justice Authority Amendment Bill, 2024, introduced by Malik.
