ISLAMABAD: The Privatization Commission Board has pre-qualified four investor groups for the privatization of Pakistan International Airlines (PIA).
The development was confirmed during the commission’s 273rd board meeting, chaired by Federal Minister for Privatization Muhammad Ali. The board also approved the transaction structure for the Roosevelt Hotel in New York, a property owned by PIA.
According to an official statement, the pre-qualification committee evaluated applications from five companies and finalized four consortia for the next phase of the privatization process. The selected investor groups are:
- Group 1: Lucky Cement Limited and Hub Power Holdings Limited
- Group 2: Kohat Cement Company Limited and Metro Ventures Limited
- Group 3: Arif Habib Corporation Limited, Fatima Fertilizer Company, and Fauji Fertilizer
- Group 4: City Schools Limited, Lake City Holdings, and Airblue
These consortia will now proceed to the due diligence phase as the privatization process moves forward.
Roosevelt Hotel Deal Also Advances
The board also gave its nod to the proposed transaction structure for the Roosevelt Hotel, with the aim of securing long-term financial benefits for Pakistan.
No Extension for PIA Bidding Deadline
In a related development, the Privatization Commission reaffirmed that the deadline for submitting bids for PIA’s privatization will not be extended beyond June 19, 2025.
The commission earlier received Expressions of Interest (EOIs) from eight companies, with five having formally submitted their applications so far.
Privatization Likely by November
The government has accelerated efforts to privatize the national flag carrier, with the transaction expected to conclude by November 2025. According to sources, the government plans to divest 50 percent of its shares in PIA, and both local and international investor groups have expressed strong interest.
