PIA employees join bidding process to acquire national flag carrier

ISLAMABAD, JUN 17 (DNA): Employees of Pakistan International Airlines (PIA) have formally submitted a joint offer to acquire the national flag carrier, entering the competitive bidding process just days before the June 19 deadline for expressions of interest, the officials from the Privatisation Commission confirmed on Monday

The joint bid was filed by Hidayatullah Khan, president of the CBA-affiliated People’s Unity, and Aqeel Siddiqui, head of the PIA Senior Staff Association (Sasa).

The employee groups assert their right to be given preference in purchasing the airline, particularly as the federal government moves forward with privatisation after a previous attempt faltered.

Adding to the list of contenders, Fauji Fertiliser Company Limited (FFC), a major player in Pakistan’s fertiliser industry, also announced on Monday that it has submitted an Expression of Interest (EoI) and prequalification documents to the Privatisation Commission for a stake in Pakistan International Airlines Corporation Limited (PIACL).

Sources familiar with the matter confirmed FFC’s offer to acquire PIA.

At a board meeting on June 13, FFC approved the move and plans to conduct full due diligence as Pakistan’s government works to sell 51%–100% of its shares to shore up its $7 billion IMF-backed reform programme.

Last month, the government extended the EoI deadline to June 19, following a failed first attempt last year when only one bid — well below the Rs85 billion asking price — was received from Blue World City consortium.

Previously, prominent business groups including Mian Mansha Group, Arif Habib Group, and the Tabba Group had also expressed interest in acquiring the debt-laden airline.

PIA’s privatisation is part of a broader government strategy to offload loss-making state-owned enterprises and stabilise public finances amid mounting economic challenges.