PIA will miss the July 2025 deadline set by the IMF for privatisation

Islamabad: Pakistan will miss the International Monetary Fund’s (IMF) July 2025 deadline for privatising Pakistan International Airlines (PIA), according to ARY News. According to ARY News, Muhammad Ali, the Chairman of the privatisation Commission and the Prime Minister’s Advisor on Privatisation, indicated that the PIA privatisation process would not be finished by the IMF’s deadline.

Another in a string of delays, he said, the procedure is now anticipated to be completed by December 2025.

In the last week of April 2025, he said, a fresh Expression of Interest (EoI) would be released, enabling potential bidders to take part in the process.

According to him, the time frame for bidders to evaluate the airline’s assets and financial sheet is set for July. Additionally, he said that bid evaluations would go on until September.

Notably, Pakistan’s effort to privatise PIA last year failed because it only got one bid, which was far less than the USD 300 million asking price.

According to an official announcement cited by ARY News on Wednesday, the transaction structure for the second effort to privatise Pakistan International Airlines Corporation Limited (PIACL) has been accepted by the Pakistani Privatisation Commission Board.

Muhammad Ali, the prime minister’s privatisation advisor, presided over a meeting of the privatisation Commission Board where the decision was taken.

According to ARY News, the proposal calls for the sale of managerial control and between 51% and 100% of PIACL’s share capital.

According to a statement from the Ministry of Privatisation, “The board recommended to CCOP (Competition Commission of Pakistan) the transaction structure proposed for the 2nd attempt of PIACL privatisation based on the divestment of 51 per cent to 100 per cent share capital of PIACL together with the management control of PIACL.”

The privatisation Commission Board also deliberated on the privatisation of the Roosevelt Hotel in New York and agreed to consult a financial expert before moving further.

According to sources cited by ARY News on Friday, the process of privatising Pakistan International Airlines (PIA) has accelerated and large corporate organisations have shown a great deal of interest.