Open bidding for the privatisation of Pakistan International Airlines (PIA) has officially commenced, marking a significant milestone in the government’s efforts to reform and privatise state-owned enterprises. In a highly competitive process, the Arif Habib Group–led consortium emerged as the top bidder after submitting an offer of Rs 121 billion.
The bidding process attracted strong interest from major business groups, highlighting renewed investor confidence in the national carrier’s future potential. The Lucky Cement–led consortium followed closely with a bid of Rs120.25 billion, underscoring the intense competition between leading corporate players during the second phase of bidding.
After the bids were disclosed and the government announced its reference price, open bidding resumed, triggering a rapid exchange of revised offers. As competition intensified, the Lucky Cement–led group requested an additional 30 minutes to submit a revised bid, reflecting the high stakes involved and the strategic importance of acquiring a controlling interest in PIA.
Officials overseeing the privatisation process described the bidding as transparent and competitive, noting that such strong participation signals market confidence in the restructuring plan for the airline. The privatisation is aimed at improving operational efficiency, reducing financial losses, and easing the burden on the national exchequer.
PIA has faced financial and operational challenges for years, making its privatisation a key component of broader economic reforms. Analysts believe that private sector management could help modernise the airline, improve service quality, and restore profitability over time.
Overall, the emergence of strong bids from major business groups marks a major step forward in PIA’s privatisation journey, bringing the process closer to completion and raising hopes for a turnaround of the national flag carrier.
