ISLAMABAD, July 20, 2025 — The Pakistani cabinet has approved four potential bidders for acquiring a 51–100% stake in Pakistan International Airlines (PIA), marking the first major privatization of a state-owned enterprise in two decades. The short-listed groups include consortia involving Lucky Cement, Fatima Fertilizer, Airblue, and a military-backed investment firm. ([turn0news33])
These bidders will now proceed to a due diligence phase over the next 2–2.5 months, aiming for final bids in Q4 2025. The move is part of broader IMF-supported reforms to divest loss-making SOEs like PIA and the Roosevelt Hotel in New York. ([turn0news33])
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