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, Qatar seize 4.48 kg cocaine at Islamabad airport in joint anti-narcotics operation
- Female passenger arrested after arriving from Sharjah via Doha, handler detained outside terminal
- Pakistan lies along regional trafficking routes connecting the Middle East, Africa and South Asia
ISLAMABAD: Pakistani authorities have seized about 4.48 kilograms of cocaine at Islamabad International Airport and arrested two suspects in a joint operation coordinated with Qatar, Pakistan’s Anti-Narcotics Force (ANF) said on Tuesday.
Pakistan lies along regional trafficking routes connecting the Middle East, Africa and South Asia, with airports — particularly transit hubs such as Doha — frequently used to move narcotics through couriers. Authorities say recent years have seen rising interceptions of cocaine shipments destined for urban markets.
“Following the GCC Conference on Counter Narcotics held at Islamabad in April 2025, Anti Narcotics Force (ANF) Pakistan, in coordination with Qatari counterparts, has conducted a joint intelligence-based operation at Islamabad International Airport,” the ANF said in a statement.
“Operation underscores the effectiveness of enhanced intelligence sharing and operational coordination between Pakistan and Qatar in countering transnational drug trafficking,” the ANF added.
“Cocaine — a highly dangerous and expensive narcotic, often linked to elite consumption — is increasingly being trafficked into Pakistan. ANF remains vigilant in monitoring and disrupting its inflow.”
The force said officers intercepted a Pakistani woman arriving from Sharjah via Doha after receiving shared intelligence and recovered cocaine concealed in a hand-carried trolley bag.
During questioning, investigators said the passenger identified a handler waiting outside the arrivals area, after which authorities detained a second suspect and seized a vehicle.
Investigators said the bag had allegedly been handed to the courier during transit at Hamad International Airport in Doha by a foreign national on instructions from handlers based in the United Arab Emirates, and that coordinated investigations were underway in both countries.
The ANF said the case highlighted cross-border trafficking networks using international transit routes and couriers, adding that the suspects and seized narcotics would remain in custody pending further investigation.
