Privatisation Commission approves criteria for PIA divestment

ISLAMABAD: The Privatisation Commission has approved the prequalification criteria and prequalification committee for evaluating bids/ interests for the divestment of Pakistan International Airlines Corporation Limited (PIACL).

The 217th meeting of the Privatisation Commission Board, chaired by Federal Minister for Privatisation Abdul Aleem Khan, concluded on Thursday.

Aleem Khan termed the PIACL as an investment opportunity for both local and international investors, particularly following the airline’s restructuring, which significantly reduced its liabilities. He expressed the hope that the Pakistani business community would enthusiastically explore this opportunity and express interest in acquiring the national airline. The Privatisation Commission issued an invitation for expressions of interest (EoI) from potential bidders for the majority stakes in PIACL through advertisements published on April 2 in both national and international newspapers.