Privatisation board rejects bid for PIA, proposes new plan for airline sale

The Privatisation Commission Board of Pakistan has rejected the latest bid for Pakistan International Airlines (PIA) and presented new proposals for the airline's privatisation, which will now be forwarded to the cabinet committee and the federal cabinet for approval.

The decision came during a meeting led by Privatisation Minister Aleem Khan, which reviewed several privatisation initiatives and approved key recommendations.

Addressing the meeting on Wednesday, Khan stressed that all privatisation efforts, including those for PIA, must adhere to legal protocols while prioritising the national interest.

"The final decision on the privatisation of institutions like PIA rests with the cabinet committee," he stated, adding that steps must be taken to enhance future bidding processes.

Khan also directed officials to expedite the privatisation of PIA and other public entities, noting, "We are bound by our oath to undertake whatever actions are necessary for the welfare of the country and its people."

He emphasised the importance of learning from the current PIA privatisation process to improve future efforts. The board also considered significant aspects related to the privatisation of other state-owned projects, marking further steps towards Pakistan's broader privatisation agenda.