ISLAMABAD: The Pakistani government has renewed its efforts to privatize the loss-making Pakistan International Airlines (PIA) and plans on inviting local businessmen to the new bidding process, Prime Minister Shehbaz Sharif said on Monday.
Pakistan’s government has been scrambling to find a buyer to privatize the debt-ridden airline since late last year, when a deal fell through after a potential buyer reportedly offered a fraction of the asking price.
The airline posted losses of $270 million in 2023, according to local media reports. Its liabilities were nearly $3 billion, about five times the total worth of its assets.
Speaking at a ceremony in Islamabad, Sharif said a new effort was being carried out to privatize the airline, so that PIA becomes the PIA of its heydays in the ‘60s.
“This time we are inviting Pakistani businessman from Karachi, Quetta, Peshawar and Lahore,” Sharif said in televised comments. “A new bidding process will be carried out, whichever group wins the bid, PIA will be given to them.”
The development comes weeks after PIA resumed its operations in Europe, with the first flight to Paris on Jan. 10, following a hiatus of four years.
The airline was restricted in 2020 by the European Union Aviation Safety Agency (EASA), United Kingdom (UK) and the United States (US) after Pakistan launched an investigation into the validity of pilots’ licenses issued in the country, following a PIA plane crash in Karachi that killed 97 people. EASA lifted its ban on PIA in November last year, however, the airline remains barred from flying to the UK and the US.
Separately on Monday, a delegation from the UK’s Department for Transport and Civil Aviation Authority arrived in Pakistan to conduct a safety assessment ahead of the resumption of PIA flight operations between the two countries, according to the Pakistan Civil Aviation Authority (PCAA).
“There will be several high-level meetings between the two sides,” the PCAA said in a statement. “The discussions will examine aviation safety protocols, review documentation, and evaluate operational procedures.”
Pakistan’s government hopes the opening of European routes, which officials expect will be followed by a similar announcement by the UK later this year, will boost PIA’s selling potential.
“We will take PIA back to the slogan ‘Great People To Fly With’,” Sharif said at the Islamabad ceremony. “This is difficult but not impossible.”
Pakistan to invite local businessmen in renewed push to privatize loss-making national airline
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Pakistan to invite local businessmen in renewed push to privatize loss-making national airline
- A deal to sell off the Pakistan International Airlines fell through late last year, after a potential buyer reportedly offered a fraction of the asking price
- Pakistan hopes the recent opening of European routes, expected to be followed by a similar announcement by the UK, will boost PIA’s selling potential
‘Fully stand with Bangladesh’: Pakistan PM backs decision to boycott India match
- Pakistan’s government have not allowed the national cricket team to play its World Cup match against India on Feb. 15
- Pakistan has accused India of influencing ICC decisions, criticized global cricket body for replacing Bangladesh in World Cup
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday backed his government’s decision to bar the national men’s cricket team from playing against India in the upcoming T20 World Cup tournament, reaffirming support for Bangladesh.
Pakistan’s government announced on social media platform X last week that it has allowed its national team to travel to Sri Lanka for the World Cup. However, it said the Green Shirts will not take the field against India on their scheduled match on Feb. 15.
Pakistan’s participation in the tournament was thrown into doubt after Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi criticized the International Cricket Council (ICC) for replacing Bangladesh with Scotland. The decision was taken after Bangladesh said it would not let its team travel to India out of security concerns.
During a meeting of the federal cabinet, Sharif highlighted that Pakistan has said that politics should be kept away from sports.
“We have taken this stand after careful consideration and in this regard, we should stand fully with Bangladesh,” Sharif said in televised remarks.
“And I believe this is a very reasonable decision.”
Pakistan has blamed India for influencing the ICC’s decisions. The global cricket governing body is currently led by Jay Shah, the head of the Board of Control for Cricket in India. Shah is the son of Indian Home Minister Amit Shah.
Pakistan’s boycott announcement has triggered media frenzy worldwide, with several Indian cricket experts and analysts criticizing Islamabad for the decision. An India-Pakistan cricket contest is by far the most lucrative and eagerly watched match of any ICC tournament.
The ICC has ensured that the two rivals and Asian cricket giants are always in the same group of any ICC event since 2012 to capitalize on the high-stakes game.
The two teams have played each other at neutral venues over the past several years, as bilateral cricket remains suspended between them since 2013 due to political tensions.
Those tensions have persisted since the two nuclear-armed nations engaged in the worst fighting between them since 1999 in May 2025, after India blamed Pakistan for an attack in Indian-administered Kashmir that killed tourists.
Pakistan denied India’s allegations that it was involved in the attack, calling for a credible probe into the incident.
