Six companies to bid as PIA goes up for auction on October 1

Farooq Sattar revealed six companies will bid for PIA’s privatisation, marking it as the first state-owned entity.

The National Assembly’s privatisation committee has been informed that bidding for the privatisation of Pakistan International Airlines (PIA) is set for October 1.

The announcement was made during a session of the NA committee, chaired by MQM’s Farooq Sattar, on Tuesday.

Farooq Sattar revealed that six companies will be participating in the bidding process, making PIA the first state-owned entity to be privatized under the current framework.

"We will try to watch the bidding for PIA live," he added, suggesting that arrangements could be made with the privatization minister, Aleem Khan, to view the process.

Calling the meeting a “farewell” session for PIA, Farooq noted that the auction will be finalized on the first day of October. He further assured that the rights of PIA employees will be a top priority after the privatization, promising that there will be no compromises on their salaries and allowances.

The privatisation process marks a significant step as the government looks to address the challenges faced by the national carrier.