In a move aligned with an International Monetary Fund (IMF) deal, the Pakistani government announced it is ready to hold the final auction for the financially struggling Pakistan International Airlines (PIA) on October 30.
This announcement came during a National Assembly session, responding to concerns raised by Sharmila Farooqi of the Pakistan People’s Party (PPP), which has historically opposed the privatization of national airlines.
Parliamentary Secretary for Communications Gul Asghar confirmed that the auction, initially scheduled for October 1, was delayed due to low bidder interest and various issues, including litigation, fleet age, and civil aviation concerns. He stated that the privatization process, overseen by Minister for Privatization Aleem Khan, began in February 2024 and is now poised for completion.
Asghar explained that PIA’s operational assets have been separated for the auction, which will involve six pre-qualified consortia bidding for a 60% stake in the airline. The interested parties include Fly Jinnah Ltd, Air Blue Ltd, and several others.
In related discussions, Minister of State for Finance and Revenue Ali Pervaiz Malik assured that no restrictions have been placed on industries importing raw materials following the finalization of the IMF program. He emphasized the government’s commitment to boosting exports and enhancing business competitiveness.
Malik also noted a decline in inflation rates, which could improve purchasing power, while highlighting ongoing efforts to address rising power prices impacting citizens. Additionally, Parliamentary Secretary for Commerce Zulfiqar Ali Bhatti reported significant tariff reductions under the National Tariff Policy 2019, aimed at supporting industry and trade.
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The assembly also discussed the Greater Karachi Bulk Water Supply Scheme K-IV, with plans for completion by next year and significant funding allocated for the project. Furthermore, the house passed the Legal Aid and Justice Authority Amendment Bill, 2024, introduced by Malik.
