The privatization process of Pakistan’s national airline, Pakistan International Airlines (PIA), is expected to be finalized by November 2025, with four companies competing to acquire through consortia involving international carriers.
During a briefing to the Senate Standing Committee on Privatisation, the secretary of the Privatisation Commission confirmed that four firms remain in the race, while two applicants were disqualified for not meeting eligibility criteria.
Senator Zeeshan Khanzada raised concerns over Pakistan International Airlines Corporation Limited’s massive Rs650 billion debt. He suggested that the airline’s two hotels could be sold to reduce the company’s liabilities.
Committee chairman Senator Dr Afnan Ullah Khan supported discussions on debt management, highlighting that asset sales could offer some relief while efforts to privatise the struggling airline continue at a steady pace.
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Lawmakers also debated the government’s strategy of prioritising profitable entities for sale. Senator Khanzada questioned the logic, noting that selling profitable firms first could raise future operational concerns.
The Privatisation Commission secretary explained that investors are naturally more interested in profitable companies. He added that even if such firms were transferred at no cost, it would still benefit the economy in the long term.
The Senate committee, chaired by Senator Dr Afnan Ullah Khan and attended by Senators Zeeshan Khanzada, Umer Farooq, and Asad Qasim, also reviewed progress on other key privatisation initiatives.
These efforts include privatisation plans for power distribution companies (Discos), generation companies (Gencos), and the Pakistan Minerals Development Corporation (PMDC), which are also under evaluation to attract international investments.
