Countdown Begins for PIA Privatization; Key Decision on Retired Employees’ Pensions

*Islamabad (Daily Qudrat):* Pakistan International Airlines (PIA) is entering the final stages of privatization, with the countdown now underway. A significant decision regarding pensions for retired employees has also been announced.

According to sources, PIA management and officials from four interested consortiums met with PIA CEO and other senior officers on Saturday to review the airline’s operations and financials. Meetings of the consortiums were also held in Karachi, with parallel discussions ongoing in Lahore and Islamabad. The consortiums are rigorously analyzing records, seeking detailed information daily, and are fully committed to the privatization process.

Each consortium has received comprehensive records, including finance and HR data, and the final meeting with PIA’s top management, including the CEO, Chief Finance Officer, and Chief HR Officer, was held ahead of bid submissions. All consortiums are scheduled to submit their bids on December 23, with the highest bidder set to acquire PIA, which currently operates 34 aircraft across more than 90 domestic and international routes.

Detailed information on PIA pilots, aircraft engineers, cabin crew, ground staff, directors, general managers, and other employees at domestic and overseas stations, as well as retired personnel, has been shared with all consortiums. However, it has been clarified that the responsibility for retired employees’ pensions will not fall on the consortium acquiring PIA.

The Prime Minister’s Secretariat has also directed full cooperation with the consortiums, ensuring transparency in the privatization process. The final bidding will be broadcast live on media to maintain complete transparency.