Govt Sets New Deadline for PIA & Pakistan Steel Mills Privatization

New deadlines have been set for the privatization of Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM), government official revealed.

The government signaled its plans to privatize the two entities which have been causing massive loss to the national exchequer. This was shared with the visiting IMF delegation.

“We are in the process of separating PIA’s core and non-core activities and will approve the transaction structure for offering a minority stake to a strategic partner and/or the general public by end-December 2016 and complete the bidding process by August 2017,” Pakistan’s government informed the International Monetary Fund (IMF).

The bidding process for PSM is said to be completed by June of next year. The privatization of PSM was resumed by the government after it was stalled by inconclusive discussions with provincial government of Sindh over transfer of ownership.

Apart from PIA and PSM, privatization of Kot Addu Power Company (KAPCO), a major generation company, is also expected to be completed next year. According to the government, it is expected that by February, an Initial Public Offering (IPO) will be conducted for FESCO. The IPO will follow for IESCO and also LESCO, later that year.

“We will finalize the transaction of SME Bank by end-December 2016, the divestment of government’s shares in Mari Petroleum Limited (MPCL) to existing shareholders by October 2016 and the IPO for SLIC by end-March 2017”, the government of Pakistan said.

IMF Suggestions

IMF Mission Chief Herald Finger, through video conference, suggested that Pakistan should devalue its currency by 5-20%. By doing so, Pakistan will be able to enhance country’s export which have been declining as of late.

The pace of Privatization program was also suggested to be accelerated along with power sector reforms.

An auto and football enthusiast, you can contact Syed Zarar at [email protected] For more discussions, contact him on Facebook ( He tweets at: @TacticallyInept.

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  • PIA and PSM both organization must be privatized. It is really a good decision of the present government because almost all the employees have been appointed in these departments on political basis, favoritism and nepotism. Over staffing is a great nuisance as well and has also crippled the both organizations. Now the government is going to privatize them is a good decision and i will say its bidding process may be completed within couple of months but should not wait till next June of 2017. Some more departments i.e Railways, IESCO etc which are also going in losses should be started their process of privatization as early as possible so that the losses can be reduced.

    • Are you on someone’s payroll lol?

      The only solution to all the above mentioned issues is privatization? Instead of cleaning out all the garbage yourself from your own home, you are selling the entire property to someone else lol.

      And no doubt, if we start digging in the interested parties who are going to buy PSM, I’m pretty sure somewhere along the way a long distant or maybe close relative of ahm ahm you know who will pop up. I think we get what we deserve because as long as there are people like you sir, we will slowly advance towards our doom :) Jsi koum wsa hukamraan.

      • Government don’t do business, even if they do these are managed by private sector. In case of airlines Emirates and Etihad aren’t managed by government but private companies manage different operations.

        Accept Pakistani nation will not abide by law and this will make impossible for any government to make things work 100%, specailly in government organization everyone consdiers “[email protected] ka mall” including awam.

        • Government khud law follow kerti he jo awam se expect kerti he ke law follow kere?
          Law banana or usko impose kerwana governement ka kaam he jab government khud corrupt ho or PM ka andar morality na hoo to aisi governance se app privatization ke bakwaas he sunn sakte hoo.

    • Why dont you privatize yourself?

      PSM and PIA are the assets of PAKISTAN. Why not clear garbage from those organization instead of Privatization. If Ganji Governemnt have no proper polices to manage these Assets then they have no right to rule this Country.

      • Konse projects he zara batao tum. Aqal ke andhe tum ho jinko ROADS, METRO, and ORANGE TRAIN jesi cheezain impress kerti he.

        Baat kero Education ke, Employment ke, Health ke ye basic needs hein ap jaisay logo ka PAIT Gali muhallo ke ROAD se bhar jata ha hamara nai bhar sakta. Sorry

        • They wont understand, ever. So it is useless to argue with them. Even if the central government was selling this Ali Salman’s house, he would have said behtr kr rhe hngain yay mre sath. Some people are just blindly supporting them even though they know that they are wrong. Pardah ajae akal k samnay to kya kr skte ho ap. Jsi koum wsa hukamraan. Yay to Allah nay kehdya. Example ooper miljaegi ^^

  • First they F’ed both institutions then they want to buy it via some relative or shell company for the price of peanuts.

  • Pakistan ki plaat bna kar kab frokhat shoro karni hai pmln ki modi say baat chal rahi hai

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