Business Desk 
Dec 09, 2024
The government has planned to restart the privatisation process of Pakistan International Airlines this week.
The move follows the lifting of the suspension imposed on PIA flights by Europe's regulatory bodies-European Commission and European Aviation Safety Agency (EASA) for the year 2020.
European ban lifted, PIA eyes fresh start
According to Ministry of Privatisation officials, the process will start by appointing a new Financial Advisor. The step is likely to be approved during a Privatisation Commission Board meeting scheduled for Tuesday. It is a fresh bid to attract potential investors for the ailing national carrier.
PIA privatisation was halted previously as the EASA had put a ban, following the Karachi plane crash in 2020, killing almost 100 people.
The incident coincided with a scandal over fake pilot licenses and followed the suspension of PIA flights on lucrative European and UK routes. With the ban now off, PIA is planning to resume its flights to Europe in January 2025 by flying to Paris first.
The airline's privatisation attempts earlier also faced setbacks when the sole bidder, the Blue World City consortium, refused to meet the minimum price of Rs85.03 billion. The consortium had offered as little as Rs10 billion for a 60% stake in PIA, after which the previous bidding process was cancelled.
At a time when the government's efforts to privatise PIA are gaining pace, it is upbeat about presenting this airline to new investors, knowing the ban imposed by the EU was going to be lifted soon.
