ISLAMABAD – The deadline for submitting Expressions of Interest (EoIs) to acquire up to 100% of Pakistan International Airlines Corporation Limited (PIACL) ends today, Thursday, June 19, 2025. The sale is part of the government’s broader plan to reform loss-making state-owned enterprises (SOEs) under a $7 billion IMF programme.
PIACL, the national flag carrier, is a public limited company with nearly 96% government ownership through PIA Holding Company Limited. The carrier operates as a full-service airline, flying approximately 4 million passengers annually to 30 destinations, with 268 flights per week.
The government extended the EoI deadline from June 3 to June 19 without altering any terms and conditions. The official notice stated:
“The deadline for submission of Expressions of Interest and Statements of Qualification… has been extended till 16:00 hours on Thursday, 19th June, 2025.”
Authorities are seeking to divest 51–100% of PIACL’s stake to attract fresh capital and strategic management after a failed attempt last year. In 2024, the Blue World City consortium offered only Rs10 billion for a 60% stake, far below the Privatisation Commission’s benchmark of Rs85.03 billion, resulting in a cancelled bidding round.
Recently, Fauji Fertilizer Company Limited (FFC), one of the country’s largest industrial groups, formally expressed interest in acquiring PIA shares.
