The federal government has officially announced the privatization of Pakistan International Airlines (PIA), inviting both national and international companies to submit their bids by June 3.

As per the Privatization Commission, interested bidders are required to pay a non-refundable fee of Rs1.4 million to participate in the process.

This marks the second occasion on which the current government has sought expressions of interest for PIA’s privatization.

The government is looking to sell its shares in the national airline through this initiative.

Initially, the sale was expected to be finalized by July of this year, but the deadline has now been extended to December.

PIA currently operates 268 flights per week, but the airline is grappling with financial difficulties and administrative challenges, making privatization a pressing necessity.

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Officials have stated that this initiative aims to enhance PIA’s performance, alleviate financial burdens, and reduce dependence on the national treasury.