Pakistan to Hold Live Auction for State-Owned PIA Airline on December 23 Under IMF Program

Pakistan is preparing to auction its state-owned airline following an unsuccessful attempt last year, according to state media reports released on Wednesday.

The government of Pakistan is moving forward with the sale of Pakistan International Airlines (PIA), which has been operating at a loss, as part of a USD 7 billion program with the International Monetary Fund (IMF).

After growing frustrated with accumulating losses, the government made a determined effort to sell the airline last year but ultimately canceled the plan when no attractive offers materialized.

Prime Minister Shehbaz Sharif recently held a meeting with corporate entities and company representatives who are participating in the national airline's privatization process, as stated in a press release shared by state broadcaster PTV News on X.

"PIA's bidding will take place on December 23, which will be broadcast live on all media," the Prime Minister announced during the meeting.

He emphasized that the process is progressing smoothly with the goals of restoring the national carrier's "lost prestige" and modernizing its operations.

"We are ensuring transparency and merit in the privatisation process of PIA," the Prime Minister stated.

Sharif noted that resuming PIA's global flight operations would benefit overseas Pakistanis, adding that modernizing the airline is "extremely essential" for developing the country's tourism sector.

This privatization would mark the country's first major sale of a state asset in nearly two decades.