ISLAMABAD: Prime Minister Shehbaz Sharif yesterday directed that the ongoing privatisation process of Pakistan International Airlines (PIA) be broadcast live on television and digital platforms, ensuring transparency throughout the proceedings.

Chairing a high-level review meeting, the premier reaffirmed his government's commitment to completing the privatisation within the proposed time frame.

To enhance investor engagement, the prime minister instructed officials to hold roadshows and adopt a proactive outreach strategy.

Officials briefed the meeting on the bidding process, eligibility criteria, and pre-conditions, along with an investor outreach plan being implemented in coordination with consultants.

The meeting was attended by federal ministers Khawaja Asif, Ahad Cheema, Attaullah Tarar, Attorney General Mansoor Usman Awan, advisors Muhammad Ali and Syed Tauqir Shah, Minister of State Bilal Azhar Kayani, Special Assistant Haroon Akhtar, and National Coordinator of the Special Investment Facilitation Council, Lt. Gen. Sarfraz Ahmed, among others.

Previously, the government tightened conditions for prospective buyers of PIA to attract only financially sound parties for the second privatisation bid and also barred provincial governments from participating in the bidding.

The prospective bidders can show their interest in acquiring majority shares in PIA till June 3, said Muhammad Ali, Adviser to Prime Minister on Privatisation, while talking to journalists.

He said that the government tightened the conditions by learning lessons from the last failed privatisation attempt. It also facilitated investors by allowing them to change the lead consortium member two weeks before the bidding date.

The adviser shared details of the revised Expression of Interest (EOI) for selling 51% to 100% PIA shares along with management control. It hopes to strike a deal by the last quarter of this calendar year.

The government has set the June 3 deadline for submitting documents by prospective buyers excluding the federal and provincial governments and their entities.

Published in The Daily National Courier, April, 26 2025

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