KARACHI: The government on Thursday invited expressions of interest from potential bidders by June 3 to sell its stake in Pakistan International Airlines (PIA), in line with the International Monetary Fund’s requirement to privatize loss-making state-owned enterprises (SOEs), according to a notice on the privatization ministry’s website.
The fresh bids have been called a week after the Privatization Commission Board on April 17 approved pre-qualification criteria for selecting prospective buyers for the divestment of the government’s 51 to 100 percent shares in Pakistan International Airlines Corporation Ltd. (PIACL).
“In the last financial year (FY24), PIA served approximately 4 million passengers across 30 destinations, carrying out 268 flights per week,” the ministry said in the notice aimed at attracting investors.
This marks Pakistan’s second attempt to raise funds through the privatization of the national carrier, which earlier this month reported its first operational profit of $33.48 million in over two decades.
Prime Minister Shehbaz Sharif’s previous attempt to offload a 60 percent stake in the airline failed last year, attracting only a single bid from a real estate firm that quoted well below the asking price of over $300 million.
In a bid to avoid a repeat, the government said it may offer prequalified bidders incentives such as exemption from sales tax on the induction of aircraft through lease or purchase and additional support to improve PIA’s balance sheet, including indemnification, transfer of certain liabilities and coverage for tax and legal claims, according to the notice.
Pakistan, which has repaid most of its $26 billion in external debt this year through an IMF loan and billions of dollars in rollovers from allies such as China, Saudi Arabia and the United Arab Emirates, had to shift nearly all of PIA’s legacy debt to the government’s books after bidder concerns derailed the previous privatization attempt.
The cash-strapped South Asian nation also plans to privatize PIA’s Roosevelt Hotel Corporation in New York.
The privatization board last week finalized its recommendations on the transaction structure, which will be presented to the Cabinet Committee on Privatization for approval.
The ministry added that demand in Pakistan’s under-served aviation market is expected to grow at a compound annual growth rate of around 6.2 percent over the next four years through FY29.
Pakistan seeks fresh bids for PIA stake sale by June 3
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Pakistan seeks fresh bids for PIA stake sale by June 3
- The government aims to sell as much as 100 percent shares of the airline after a failed attempt last year
- It may offer incentives like tax exemption on aircrafts purchase and liability transfers to attract investors
Pakistan police say 27 cops killed in 134 attacks in restive Bannu district in 2025
- Bannu is a restive district in northwestern Pakistan where militants frequently attack law enforcers
- Police say at least 20 drone attacks by militants killed nine civilians, injured 19 cops during the year
PESHAWAR: Police in Pakistan’s northwestern Bannu district said this week that at least 27 police personnel were killed in 134 attacks while 53 militants were killed during various security operations in the volatile area during the year, as Islamabad grapples with a surge in militancy.
Bannu district in Khyber Pakhtunkhwa (KP) province is one of Pakistan’s most dangerous districts, where militants affiliated with the Tehreek-e-Taliban Pakistan (TTP) frequently target law enforcers in attacks.
Regional Police Officer Sajjad Khan told reporters during a press briefing on Wednesday that at least 134 “terrorist attacks” were recorded in Bannu district during 2025 that targeted police stations, posts, checkpoints, police mobiles and police parties.
“As a result of these attacks, 27 police personnel were martyred and 79 were injured,” a statement issued by Bannu Police said on Wednesday.
It said at least 168 intelligence-based operations were conducted by police across the district during the year, in which 105 militants were arrested and 65 were killed.
Khan informed media that militants carried out 20 drone attacks targeting police installations and civilian areas in 2025, killing nine civilians and injuring 19 police personnel.
“However, following the installation of an anti-drone system in Bannu district on Jul. 18, 2025, the situation improved significantly,” the statement said. “More than 300 drone attacks were thwarted, and four drones were struck/spoofed.”
He said the Bannu police force has been equipped with drones, anti-drone guns, sniper rifles, armored personnel carriers (APCs), thermal imaging systems, tactical helmets and bulletproof vehicles.
“Bannu police reiterates its resolve to continue its struggle to maintain law and order in the district, completely eliminate terrorism and protect the lives and property of the public,” the statement concluded.
Pakistan blames the Afghan government for facilitating TTP attacks inside its territory, a charge Kabul denies. The surge in militant attacks has strained ties between Pakistan and Afghanistan, leading to deadly border clashes in October that saw dozens killed and several wounded on both sides.
