Final auction for PIA to be on Oct 30, NA told

ISLAMABAD: The final auction for privatisation of the state-owned Pakistan International Airlines (PIA) Corporation would be held on 30th October, ARY News reported.

This was stated by Parliamentary Secretary for Communication Gul Asghar Khan in the National Assembly while responding to the call attention notice of Pakistan People’s Party’s (PPP) Sharmila Sahiba Faruqui.

Gul Asghar Khan said the PIA privatisation is a lengthy process conducted under the elaborate structure of privatisation.

“The privatisation process was initiated in February 2024 and would be finalised on October 30th,” he added.

The parliamentary secretary for communication said the process involved different institutions including the Privatisation Commission Board chaired by the Minister and the Secretary Privatisation Commission is serving as its secretary.

The PIA’s privatisation decision, he said was approved by the Cabinet Committee on privatization.

“The PIA assets have been parked separately as its operational assets have been separated whereas the final auction will be held under PIA Corporation on October 30th,” he said.

As the government proceeds with the PIA privatisation, new conditions from potential buyers have emerged related to airline’s employees.

During a Senate Privatisation Committee meeting chaired by Senator Talal Chaudhry, it was revealed that companies interested in acquiring PIA are requesting significant changes.

Key among the new demands is the immediate dismissal of all employees, alongside the acquisition of 76 percent of PIA’s shares, with the government responsible for clearing tax payments.

The bidders also requested an extension on the date for completing due diligence, indicating that the privatization process could be delayed.