The National Assembly’s Standing Committee on Privatization, chaired by MNA Farooq Sattar, on Monday reviewed progress on the privatization of Pakistan International Airlines (PIA), with officials confirming that the due diligence process for the national flag carrier has already begun.
The committee was informed that the Privatization Commission intends to invite bids for PIA in the last quarter of the current year. Officials briefed that four consortia are currently participating in the due diligence process, while five consortia or groups had initially submitted Statements of Qualification. One consortium failed to meet the required criteria and was not shortlisted.
Privatization officials said bidding companies are being facilitated with site visits to PIA facilities. They assured lawmakers that the process will be carried out in a fully transparent manner, and any objections raised by participating companies will be addressed fairly. “We cannot afford to side with any single bidder; doing so would sabotage the entire privatization exercise,” the officials added.
The committee was further informed that Fauji Fertilizer operates as a completely independent commercial entity, while Airblue, one of the interested parties, has relevant experience in the aviation sector that could be leveraged if it wins the bid.
Farooq Sattar noted that PIA’s head office has already been shifted to Islamabad, while most of the due diligence activities are being carried out in Karachi, where all interested parties are based. He also praised Privatization Adviser Muhammad Ali for professionally advancing the process.
The committee chairman directed the Privatization Ministry to provide a comprehensive update on the progress achieved so far.
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