The federal government on Monday informed the National Assembly Standing Committee on Privatization that Pakistan International Airlines’ (PIA) current workforce of about 6,700 people would be protected, and every effort would be made to retain the maximum number of employees.
A golden handshake option may be offered by the incoming buyer.
The privatization of PIA is expected to be finalized between October – December 2025.
Officials from the Privatization Commission briefed the committee that four parties have been pre-qualified for the transaction. These include the Lucky Cement Consortium, Arif Habib Group, Air Blue, and Fauji Fertilizer Company. Vetting of these groups is set to begin on Tuesday.
Secretary Privatization Commission Usman Akhtar Bajwa said the shortlisted bidders will be granted access to PIA’s virtual data room, and their queries regarding the transaction will be addressed. Efforts are underway to complete the due diligence process within 60 days, instead of the originally planned 60 to 90 days.
The committee directed the Privatization Commission to engage with the chief ministers of Punjab and Khyber Pakhtunkhwa regarding the privatization of the national carrier. Committee Chairperson Farooq Sattar noted that many of the pre-qualified parties had previously shown interest in acquiring PIA.
Officials said the recent reopening of PIA’s Europe route would enhance the airline’s appeal to investors. The Secretary said that PIA’s fleet is expected to increase from the current 19 aircraft to 40 post-privatization.
Representatives of the Privatization Commission said it has proposed retaining staff for at least 18 months and emphasized that no reduction in current employment terms and conditions would be allowed. Existing employee facilities could be improved.
One member complained why the Ministry of Finance reported a Rs 4.6 billion loss for PIA last year despite earlier claims of improved performance. In response, PIA’s CEO said the airline’s financial condition has improved, but failed to provide more details.
Officials added that the group that had bid Rs. 10 billion in the previous round is not among the current pre-qualified parties.
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But the buyer will not allow these PIA employees, their families and relatives free, luxurious first class/ club class flights as they have been doing in the past.
Another disaster for the country.
Courtesy : govt
6700 employees 🧐🧐🧐🧐….
….
No wonder the airline is going thru such huge losses..and the govt expects the new buyer to retain such a huge workforce👋👋👋…….
If the new buyer retains PIA’s present employees, it is doomed to disaster. It will be a case of:
میر کیا سادہ ہیں بیمار ہوئے جس کے سبب ۔۔۔۔
اسی عطار کے لونڈے سے دوا لیتے ہیں ۔۔۔
(میر تقی میر )
It is better to operate new airline than to buy PIA with its employees. Most of them are didn’t get job on job advertised but political interference.
It is better to operate new airline than to buy PIA with its employees. Most of them didn’t got job on job advertised but political interference.
That has been the problem. Lack of political decision. If Margret thatcher could desolve huge powerful dock labour- outside Port organisation – which only has the right to provide labour in ports- then why we cannot provide compulsory handshake to the unwanted individuals. Go through the perks and privileges which have brought the airline to its knees and then the loved ones being placed at attractive places- and operating PIA as a family car by the shareef family with PIA standing at the Heathrow tarmac ten days every time mns visited Uk for shopping.or helicopters to fetch Bihari from Lahore to Murree
Total number of planes 32( and some of them are not operational) even considering 32 all are operational it means 209 person per plane . No buyer with right mind will keep so many workers.
unless those responsible who destroyed nations assets and organs of state are punished.
we will keep taking loans and keep selling our assets at marginal low price.
But accountability is the word and action we hate and this accountability is only solution to all our nations problems.
Each public servent who take salary and benifits from public funds and work against interest of nation and its people even taking bribes or delaying projects betrays his or her oath and betrayal of oath comes under article six violation.
This invoking of article six against all those who worked against nation and its people collectively or individually will fix all problems in unprecedented way.
Alhamdolilah