PIA privatization sparks fierce political backlash as leaders warn the national airline’s sell-off could become a mega scandal, raising concerns over asset undervaluation, transparency, and Pakistan’s long-term economic interests.
WEBDESK – MediaBites – December 24, 2025
“The government machinery and ministers are misleading the nation over the privatization of PIA. This is not a victory for Pakistan, but a victory for Arif Habib and his interests. Pakistan has lost. How can it be called a win when a household is forced to sell its utensils?” PPP’s Chaudhry Manzoor Ahmed.
These are national assets that have been sold off at throwaway prices. PIA consists of two parts. Today, PIA-CL has been privatized, while another company has been created to retain the assets and liabilities. PIA had a debt of approximately PKR 650 billion, but its assets are worth thousands of billions of rupees.
Last year, PIA earned a profit of PKR 26 billion while operating only 13 aircraft. With four more aircraft added, the fleet has increased to 17, and in total, PIA owns 30 aircraft. The remaining 13 aircraft could have been repaired and brought back into operation, which would have multiplied profits several times over.
Why is an airline being sold that earned PKR 11.5 billion in profit in just the first six months of the current year? The value of PIA’s 30 aircraft alone is around PKR 100 billion.
PIA employees’ provident fund stands at PKR 20 billion. The airline owns eight buildings worth approximately PKR 50 billion. Spare parts and hangars worth PKR 10 billion are being handed over to Arif Habib, along with supporting equipment worth another PKR 10 billion, 400 vehicles, fully furnished offices, and complete operational equipment.
PIA also holds 64 international landing routes, which have not been assigned any value, even though they could not be acquired today for PKR 640 billion. Airlines operating for 25 years have still been unable to secure these routes. With the reopening of European routes, profits would have increased several times over. Forty percent of PIA’s profits come from the UK alone.
The privatization of PIA is an outright injustice and exploitation. What will happen to employees’ salaries and pensions after one year? PIA’s salary impact is only 16 percent, whereas Sri Lankan and Ethiopian Airlines have salary costs of no less than 22 percent.
PIA’s privatization will prove to be a scandal bigger than MCB.
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