ISLAMABAD: The Pakistani government will seek fresh expressions of interest for the sale of Pakistan International Airlines later this month, a government adviser said on Thursday, two days after PIA reported its first annual profit in over two decades.
Pakistan has been looking to offload a 51-100 percent stake in debt-ridden PIA, part of an effort to raise funds and reform cash-bleeding state-owned enterprises as envisaged under a $7 billion International Monetary Fund program.
However, Islamabad’s attempt to privatize PIA last year fell flat when it received only a single offer, well below the asking price of more than $300 million.
Pakistan has offloaded almost all of the national carrier’s legacy debt and shifted it to government books after bidders raised issues that had led to the failed attempt, according to the privatization ministry.
“In our last attempt to privatise PIA, pre-qualified bidders had some issues with taxation and the balance sheet. Those are taken care of now,” Muhammad Ali, government adviser on privatization, told Reuters. “We plan to publish the new Expression of Interest (EoI) by the last week of April 2025,” he said.
The government plans to complete the airline’s privatization before the end of this year.
“We are also revising the pre-qualification criteria,” he said, adding that the reference price could also be revised keeping in view the latest accounts and changes in the balance sheet.
Prime Minister Shehbaz Sharif last year announced plans to sell all SOEs.
The adviser said that the process to privatise power distribution companies had also started, terming it a “high priority transaction.”
He said some companies previously due to be sold in the second phase were being pushed into the first phase.
The adviser said the government had appointed Jones Lang LaSalle to advise on exploring different sales options for the PIA-owned Roosevelt hotel building in Manhattan, New York. They include selling the building as it is or opting for a joint venture with a top tier developer, which has the potential to generate proceeds five times higher, Ali said.
Pakistan to seek fresh bids for national airline, says adviser
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Pakistan to seek fresh bids for national airline, says adviser
- Pakistan has been looking to offload a 51-100% stake in debt-ridden PIA
- Attempt to privatize PIA last year fell flat when Pakistan got only one bid
Islamabad reviews preparations for 2026 OIC ministerial conference on women
- The conference, held every three to four years, brings together OIC ministers to discuss progress on women’s rights
- Pakistan’s foreign minister directs authorities finalize arrangements, priorities in coordination with OIC Secretariat
ISLAMABAD: Pakistani Foreign Minister Ishaq Dar on Friday presided over a meeting to review progress regarding the 9th OIC Ministerial Conference on Women, scheduled to be held in Islamabad in July, the Pakistani foreign ministry said.
The conference, held approximately every three to four years, brings together ministers from OIC member states to review progress on women’s rights, share national policies and adopt new frameworks.
This year’s conference is slated to be held in the Pakistani capital of Islamabad on July 12-13, according to a schedule of 2026 meetings shared on the OIC website.
“The meeting evaluated progress and emphasized timely coordination to ensure a successful event,” the ministry said in a statement on Friday.
“FM directed all relevant ministries and stakeholders to finalize logistical arrangements and thematic priorities in close collaboration with the OIC Secretariat.”
Previous ministerial meetings have focused on themes such as women’s economic empowerment, combating gender-based violence, and improving access to education and health care.
The exact agenda for the 2026 meeting has yet to be announced.
The previous OIC ministerial conference on women was held in Cairo in 2021 and focused on women’s empowerment, protection frameworks, and socio-economic participation.
