The long-debated privatisation of Pakistan International Airlines (PIA) is moving closer to reality, with four companies now shortlisted to bid for the national carrier.
Out of five firms that initially submitted their Statements of Qualification (SOQs), four have been declared eligible to take part in the process, officials told the Senate Standing Committee on Privatisation on Monday.
As per Muhammad Ali, Adviser to the Prime Minister on Privatisation, the bidding process for PIA is expected to take place in the final quarter of the year, between October and December. He added that site visits and conferences with potential buyers are already underway to ensure a transparent and competitive process.
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The Senate panel, chaired by Senator Afnanullah, also reviewed the privatisation of other state-owned enterprises (SOEs), including the Pakistan Mineral Development Corporation (PMDC), power generation companies (GENCOs), and distribution companies (DISCOs).
Members of the committee suggested that PMDC, which has been earning steady profits, should be removed from the sell-off list. The committee also summoned officials from the National Electric Power Regulatory Authority (NEPRA) to further deliberate on the privatisation of power distribution companies.
During the meeting, a joint secretary from the Power Division briefed members that eight out of nine operational issues at Nandipur Power Plant and four out of nine at Guddu Power Plant had already been resolved. However, two GENCO plants remain on the privatisation list as part of the government’s broader strategy to reform the energy sector.
The secretary for privatisation emphasized that profitability today does not guarantee sustainability tomorrow. “The government’s role is not to run airlines or power companies. Privatisation will allow the state to generate revenue while the private sector enhances efficiency, recovery, and performance,” he remarked.
Meanwhile, PMDC’s Chief Financial Officer highlighted that the corporation produces 1.5 million tonnes of salt annually, generating Rs5.4 billion in revenue—a performance that lawmakers believe justifies its exclusion from privatisation.
As for PIA, the government remains firm on moving ahead. With four qualified companies in the race, the coming months could decide the fate of the country’s struggling national airline.