Bidding for PIA to be held on Dec 23, says PM Shehbaz

ISLAMABAD: Prime Minister Shehbaz Sharif said on Wednesday that bidding for Pakistan International Airlines (PIA) would be held on December 23 with a live media broadcast.

The government has been seeking to sell a 51-100 per cent stake in the struggling national airline to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund (IMF) programme.

It would be the country’s first major privatisation in nearly two decades. Four bidders have been pre-qualified for the sale: Lucky Cement Consortium, ArifHabib Corporation Consortium, FaujiFertiliser Company Limited and Air Blue Limited.

A press release posted on X by state broadcaster PTV News said that the prime minister held a meeting with all corporate entities and company representatives participating in the privatisation process of the national airline.

“PIA’s bidding will take place on December 23, 2025, which will be broadcast live on all media,” the statement quoted the prime minister as saying.

He said the process was proceeding smoothly to restore the national carrier’s “lost prestige” and align it with modern requirements.

“Soon, PIA will once again live up to its tradition of ‘Great People to Fly With’.

“We are ensuring transparency and merit in the privatisation process of PIA,” he was quoted as saying.

The prime minister said the restoration of PIA’s flights worldwide would provide convenience to overseas Pakistanis, stressing that aligning it with modern requirements was “extremely essential” for the tourism sector’s development.

“I am hopeful that whoever among you takes on this important responsibility after the bidding will focus all their energies on restoring the prestige of the national airline and its development,” the prime minister said.

The statement added that the participants “commended the professional and transparent approach adopted by the government” during the entire process.

Meanwhile, Prime Minister Shehbaz Sharif on Wednesday said that the incumbent government was taking priority measures to reduce the production cost of industrial goods for local industry, trade, and population.

The prime minister, chairing a meeting to review recommendations of the sub-working group on customs duty and other trade sector reforms, said that the National Tariff Policy approved by the government was a revolutionary step to boost domestic industrial production while making businesses competitive in local and international markets.

He said that the Policy was also introduced to align the country’s exports and imports with overall national economic growth.

He said that identifying the sector-specific proposals and issues was inevitable to increase domestic industrial production and trade.

The prime minister said that for decades, the Export Development Fund was not utilised to promote research and training to enhance economic and industrial production capacity.

He emphasised that the recommendations and reform proposals in the export and import sectors put forward by experts must be based on realistic data and statistics.

Prime Minister Shehbaz also directed strict monitoring of customs duties collection on bilateral and transit trade goods with other countries on the border.

The working group viewed that sustainable export-led economic growth was only possible through increased investment and production capacity, government protection, and improved infrastructure.

During the meeting, Muhammad Ali Tabba and other representatives of the business community, who are part of the sub-working group, briefed the prime minister on issues related to customs and tax collection and presented their recommendations.

Prime Minister Shehbaz welcomed the recommendations and issued instructions to the ministries and institutions concerned to extend all possible facilities to the business community and investors.

The meeting was attended by federal ministers Muhammad Aurangzeb, AttaullahTarar, Musadik Malik, Awais Ahmad Khan Leghari, Ahad Khan Cheema, Ali Pervaiz Malik, Azhar Bilal Kayani, HaroonAkhtar, National Coordinator of Special Investment Facilitation Council (SIFC), representatives of national industry and business community and senior government officials. Staff Report