PIA's final auction to be held on October 30 after delays

The incumbent government has scheduled the final auction of the struggling Pakistan International Airlines (PIA) Corporation for October 30, as reported by local media on Wednesday.

Parliamentary Secretary for Communication, Gul Asghar Khan, made the announcement on Wednesday during the seventh session of the National Assembly, responding to Pakistan Peoples Party (PPP) MNA Sharmila Faruqui.

The privatisation process, originally set for October 1, was delayed due to low bidder interest and unresolved issues, according to well-placed sources. These challenges included legal disputes, an ageing fleet, and civil aviation concerns.

Khan outlined the detailed privatisation process, which began in February 2024 and is expected to conclude with the final auction at the end of this month.

He added that the process is being conducted under the oversight of the Privatisation Commission Board, chaired by the minister, with Secretary Usman Bajwa playing a key role.

“The Cabinet Committee on privatisation approved the decision, and PIA’s operational assets have been separated from the main entity,” Khan told lawmakers.

Last month, Usman Bajwa informed the National Assembly’s Standing Committee on Privatisation that final bid documents were shared with six pre-qualified consortia.

These include Fly Jinnah Limited, Air Blue Limited, Arif Habib Corporation Limited, and consortia led by YB Holdings (Private) Limited, Pak Ethanol, and Blue World City. The bidders are vying for a 60% stake in the airline.