PIA privatization: No job cuts planned, golden handshake possible
File Photo
File Photo
(Web Desk): The federal government informed the National Assembly Standing Committee that the current workforce of about 6,700 staff members of Pakistan International Airlines (PIA) will be protected during the ongoing privatization process.

Federal government official stated that during PIA privatization process every attempt will be made to keep as many staff members as possible.

A "golden handshake" programme can also be extended by the potential buyer as part of the transition process.

PIA Privatization is likely to commence between October and December 2025. The Privatization Commission officials presented the committee with the information, disclosing that four bidders have been pre-qualified for the deal: Lucky Cement Consortium, Arif Habib Group, Air Blue, and Fauji Fertilizer Company. The evaluation of these bidders will start on Tuesday.

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Secretary Privatization Commission Usman Akhtar Bajwa declared that these shortlisted groups will be provided with access to PIA s virtual data room to examine financial and operational information. The period of due diligence, initially estimated at 60–90 days, is now being fast-tracked to 60 days.

Officials pointed out that the recent revival of PIA s European routes would contribute for increasing investor interest. After the privatization, PIA s fleet size is expected to expand from 19 to 40 aircraft.

The Commission revealed that all employees will be retained with at least 18 months post-deal, with no variation in existing terms and conditions of employment. Enhancements to employees  benefits and amenities are also under consideration.