KARACHI: The Privatisation Commission has received Expressions of Interest (EOIs) from eight parties for the sale of 51% to 100% shares, along with management control, of Pakistan International Airlines Corporation Limited (PIACL). This marks the government's renewed effort to privatize the national airline.
Today was the final date for submitting Statements of Qualification (SOQs), with five out of the eight interested parties meeting the deadline. Among them is a consortium led by Lucky Cement Limited, Hub Power Holdings, Kohat Cement, and Metro Ventures. Another consortium includes Arif Habib Corporation, Fatima Fertilizer, City Schools, and Lake City Holdings. A third group features Augment Securities & Investments, Serene Air, Bahria Foundation, Mega C&S Holding, and Equitas Capital LLC. In addition to these, separate bids were submitted by Fauji Fertilizer Company Limited and Air Blue Limited.
These SOQs will be assessed based on the Privatisation Commission’s pre-set criteria. Once prequalified, the selected bidders will be granted access to a virtual data room to carry out due diligence before advancing to the next stage of the privatization process.
The level of interest from diverse business groups—including leaders in cement, power, aviation, and education—demonstrates growing investor confidence in the government’s privatization strategy. It also reflects a broader interest in acquiring strategic assets in Pakistan’s aviation sector. This second attempt to privatize PIA appears to be gaining more traction, indicating a potentially significant shift in the future of the national airline.
