Pakistan International Airlines (PIA) recently faced a significant blow in its privatisation process after Fauji Fertiliser Company Ltd quit the bidding race for a 75 percent stake in the nation’s national carrier. With this, there remain three prequalified bidders now, including two consortia. According to reports, the firm did not deposit the required earnest money on the final bidding date on Saturday (December 22, 2025) and opted out of the race.
Remaining bidders in the race
The remaining bidders in the race will reportedly be submitting sealed bids by Tuesday, December 23, 2025. It includes:
- Airblue (Pvt) Ltd
- A consortium led by Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures
- A consortium led by Arif Habib Corporation, including City Schools, Fatima Fertiliser, AKD Group Holdings, and Lake City Holdings.
Winning bidder to be given 90-day option to…
Officials said Fauji Fertiliser’s withdrawal allows it the flexibility to potentially join a successful consortium at a later stage, an option that would not have been available had it formally submitted a bid, Geo News reported. Under the privatisation plan, bids are being invited for a 75 per cent stake in PIA, with the winning bidder given a 90-day option to purchase the remaining 25 per cent share held by the government, Geo News reported.
About the bidding process
The bidding process will begin with sealed bids, followed by approval of the reserve price by the Privatisation Commission Board and the Cabinet Committee on Privatisation, after which bids will be opened publicly. The government has assured PIA employees of one year of job security, while the holding company will manage pension and post-retirement liabilities.
Officials said the airline, which operates flights to 78 destinations and holds around 170 international landing slots, urgently needs fresh investment and professional management to revive its operations. (With ANI Inputs)
