Due to financial difficulties, Pakistan will host a bidding on December 23 to sell its national airline, Pakistan International Airlines (PIA), which is heavily indebted. This would be the nation's first significant privatization in nearly 20 years.
As part of a USD 7 billion deal with the International Monetary Fund (IMF), the Pakistani government is looking to sell the state-owned airline that is losing money. Last year, the authorities attempted to sell it, but they gave up when no offer satisfied them.
PIA, Pakistan's national airline, will be sold
According to a press statement released on X by official broadcaster PTV News, Pakistani Prime Minister Shehbaz Sharif met with representatives of all corporate organizations and businesses participating in the initiative to privatize the national airline.

He was cited as adding, "PIA's bidding will take place on December 23, which will be broadcast live on all media."

According to a report by Dawn, the government has been considering selling between 51 and 100 percent of the national airline in order to raise money and overhaul the financially troubled carrier.
Notably, the next USD 1.2 billion package is scheduled to be released by the IMF's Executive Board on December 8. Future payments will depend on the completion of the PIA bidding process by the end of the year.
The goal of the IMF program, which was approved in September 2024, was to stabilize Pakistan's economy, which was then worth USD 370 billion, amid a time of extreme financial instability brought on by record inflation, a rapidly declining currency, and an expanding external deficit.

Last year, the government attempted to privatize the airline, but only one bidder offered PKR 10 billion for a 60% share—much less than the PKR 85 billion reserve price.
In April 2025, the Privatization Commission reopened the process and requested expressions of interest from both domestic and foreign investors for a 51–100% ownership.
Among bidders, Asim Munir's "firm"?
The decision to privatize the national flag carrier has been approved for four Pakistani companies.
According to a PTI report, Airblue, Younus Brothers, Habib Rafique, and Fauji Fertiliser have indicated interest in placing a bid for a majority stake in the national carrier.The Fauji Foundation oversees Fauji Fertilizer. The Quartermaster General (QMG), who is a member of the Fauji Foundation's Central Board of Directors, is appointed by Pakistan's Field Marshal Asim Munir, according to an India Today article.
According to the research, the military's institutional dominance gives the Chief of the Pakistani Army indirect influence over the Fauji Foundation.
Notably, operational issues brought on by the airline's lengthy financial backlog from overstaffing and bad management prompted the government to move forward with privatization.