Islamabad 51
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
Islamabad 51
No Result
View All Result
Home Latest

Government to relaunch PIA privatization with fresh bidder ads next week

News Desk by News Desk
May 13, 2025
in Latest, National
0
PIA Airline

PIA

Share on FacebookShare on Twitter

ISLAMABAD: The government will release an advertisement next week to invite new bidders for the privatization of Pakistan International Airlines (PIA), according to the privatization ministry.

Media reports indicate that the government’s first attempt to privatize PIA, which did not succeed, cost $4.3 million, as shared with the National Assembly Standing Committee on Privatisation on February 26.

More Insights: Explore Related Stories

No Content Available

Last month, Privatisation and Investment Minister Abdul Aleem Khan stated that the government aims to complete PIA’s privatization by May. The privatization commission also approved a plan to sell 51 to 100 percent of PIA’s shares for the second attempt.

The ministry said the privatization commission, led by Muhammad Ali, Adviser to the Prime Minister on Privatisation, met today and approved the criteria for selecting potential bidders for 51 to 100 percent of PIA’s shares. A new advertisement for PIA’s privatization will be published next week, and the meeting will continue tomorrow to discuss remaining topics.


ALSO READ | Pakistani students to get 400 fully funded scholarships from Hungary


Earlier this month, a PIA spokesperson announced that the airline’s board approved its 2024 financial results, showing a net profit for the first time in about 21 years. PIA recorded an operational profit of Rs3.9 billion and a net profit of Rs2.26 billion, with an operating margin of over 12 percent, comparable to top global airlines.

PIA started facing losses in 2011 and needed government support. By 2016, its debt reached $3 billion, and by 2018, it grew to $3.3 billion from $2.97 billion the previous year, requiring government bailouts to keep operating.

In June last year, the government agreed to reform struggling state-owned companies, including PIA, as part of a $3 billion IMF bailout deal. However, in February 2024, before the general elections, the election commission asked the caretaker government to pause finalizing the privatization deal.

Tags: Pakistan International Airlines SalePIA Privatization Pakistan UpdatePIA Privatize Special Discount
Previous Post

Punjab appoints, transfers 67 police officers in Crime Control Department

Next Post

Punjab CM launches Rs. 1 billion assistive devices project for special individuals

News Desk

News Desk

Related Posts

No Content Available
Next Post
Punjab New Project

Punjab CM launches Rs. 1 billion assistive devices project for special individuals

KP Government

Working group formed in KP to protect human rights, headed by chief secretary

Hockey Players Image

Sindh postpones 35th National Games 2025 in Karachi over extreme heat, exams

Talal Chaudhry Afghan Citizens

No extension in deadline for Afghan citizens staying without documents: interior minister

Follow Us

Recommended

Farmer Pic

Punjab’s Farmer Support: Interest-Free Loans Announced

1 year ago
Rs 8 Crore Cigarette Smuggling Bid Foiled

Motorway police nab smugglers, recover Rs 8 crore worth of foreign cigarettes

2 months ago
Faizabad dharna Islamabad

Faizabad Dharna: Inquiry Commission Gives Clean Chit to Former Spy Chief Faiz Hameed

1 year ago
Shehbaz Sharif

PM Shehbaz Cracks Down on Tax Delays: Suspends Inland Revenue Chief and Officials

1 year ago

Categories

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • Home 1
  • Privacy Policy
  • Terms of Service

Follow us on Google News for Latest Updates

Recent News

  • New taxes to be imposed on Karachi wedding halls, details revealed
  • Pakistani mountaineer Sirbaz Khan summits all 14 highest peaks without oxygen
  • Karachi faces 12 to 14 hours of load-shedding in various areas

Category

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us

© 2023 Islamabad51