The Commission has confirmed that the privatisation of PIA is scheduled for December 23.

The Privatisation Commission has announced that the privatization of Pakistan International Airlines (PIA) will be finalized on December 23, with all arrangements concluded by December 19, authorities stated on Thursday.

During a briefing to the Senate Standing Committee on Privatisation, Secretary Usman Bajwa stated that the investor acquiring PIA will be exempt from sales tax on the acquisition of new aircraft. He stated that, in contrast to the first attempt, the investor will not be liable for the FBR obligations of PKR 2.66 billion and Pakistan Aviation’s PKR 700 million.

Bajwa further indicated that 51% to 100% of PIA shares will be divested. In contrast to the previous endeavor, pathways to Britain and Europe are currently accessible, and the investor must invest PKR 8 billion immediately upon privatization. He stated that the final commercial arrangements with investors would be finalized by Thursday night, and bidders are required to submit PKR 200 million as earnest money to participate.

Officials stated that these measures are intended to facilitate the process and attract committed investors, so ensuring a successful privatization of the national airline.