Federal Minister for Privatisation Abdul Aleem Khan announced the extension, emphasizing the government’s commitment to transparency and openness throughout the process.

Ten companies, including three local airlines interested in forming consortiums with international partners, have expressed interest in acquiring the national flag carrier. The extension, which pushes the deadline from May 3 to May 18, aims to provide such companies with ample time to finalise their proposals. Khan clarified that this would be the final extension granted.

The privatisation has been a contentious issue, with critics raising concerns about job security and the potential loss of national control over a strategic asset.

Khan addressed such concerns, assuring PIA employees that their jobs were secure and highlighting the expertise of Pakistani pilots and crew. He emphasised that privatization was crucial to revitalise the struggling airline, which has accumulated losses of Rs830 billion.

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The minister also underscored the broader economic benefits of privatising loss-making state-owned enterprises, arguing that the saved funds could be redirected towards welfare projects. He cited the privatisation of six to seven electricity distribution companies (Discos) as another key objective, with only three strategically important Discos remaining under government control.

Khan acknowledged opposition to the privatization plans, particularly from PPP Chairman Bilawal Bhutto Zardari. He expressed his intention to engage with Bilawal and other stakeholders to address their concerns and build consensus around the need for reform.