Islamabad, June 19, 2025: The Privatization Commission of Pakistan has received Expressions of Interest (EOIs) and Statements of Qualifications (SOQs) from several interested parties for the second round of privatization of Pakistan International Airlines Corporation Limited (PIACL).
The Commission had earlier invited EOIs for the privatization of 51% to 100% shares of PIACL, along with management control. Today, June 19, marked the final deadline for the submission of SOQs under this process.
In total, eight interested parties submitted their EOIs for the proposed privatization:
- A consortium comprising Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Pvt.) Limited.
- A consortium including Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, The City Schools (Pvt.) Limited, and Lake City Holdings (Pvt.) Limited.
- AKD Group.
- Airblue Limited.
- A consortium consisting of Augment Securities & Investments (Pvt.) Limited, Serene Air (Pvt.) Limited, Bahria Foundation, Mega C&S Holding, and Equitas Capital LLC.
- Habib Rafiq Engineering (Pvt.) Limited.
- Fauji Fertilizer Company Limited.
- Sardar Muhammad Ashraf D. Baluch (Pvt.) Limited.
Out of these eight, five parties successfully submitted their SOQs by the stipulated deadline:
- Consortium of Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures.
- Consortium of Arif Habib Corporation, Fatima Fertilizer, City Schools, and Lake City Holdings.
- Fauji Fertilizer Company Limited.
- Airblue Limited.
- Consortium of Augment Securities, Serene Air, Bahria Foundation, Mega C&S Holding, and Equitas Capital.
The submitted SOQs will now be evaluated by the Privatization Commission based on predefined eligibility criteria. Parties that qualify will advance to the next phase of the process, where they will be granted access to a Virtual Data Room (VDR) to conduct due diligence before placing financial bids for acquiring a stake in PIACL.
