ISLAMABAD: The National Asse­mbly Standing Committee on Privatis­ation on Wednesday sought a clear timeline to complete the ongoing bidding process for the privatisation of Pakistan International Airlines Corporation Ltd (PIACL) and directed that the process be accelerated.

The committee, headed by Muhammad Farooq Sattar, asked the privatisation commission to present the timeline at its next meeting. The committee also emphasised safeguarding PIA employees’ jobs before the sale.

It called for retaining staff based on performance and merit and ensuring benefits, such as pensions and gratuity, are processed fairly. Officials were instructed to consult the PIA employees’ union and address their concerns to ensure a transparent process.

The privatisation commission has already approved a transaction structure to sell a stake of 51 per cent to 100pc in PIACL, along with management control.

Four bidders have been pre-qualified for the sale: Lucky Cement Consortium, Arif Habib Corporation Consortium, Fauji Fertilizer Company Limited Air Blue Limited.

According to the commission, the pre-qualified bidders now have access to a virtual data room, can conduct site visits and participate in the pre-bid conference. Negotiations are ongoing to finalise commercial terms, advancing the privatisation process.

In a separate matter, an additional secretary for the power division told the committee that the government has begun the phased privatisation of public sector power generation companies (GENCOs), under a 2024–29 programme.

He said only operational plants will be offered, with the Guddu (747MW) and Nandipur (525MW) facilities identified for privatisation once pre-conditions are met. Non-operational units are proposed for delisting from the programme.

The privatisation commission advised GENCOs may dispose of old, non-functional assets with the board and ministry’s approval.

The committee also sought a detailed report from the power ministry on the installation of 1.5 million smart meters nationwide and requested a formal briefing for Karachi’s elected representatives about the project’s progress and to explain why Karachi is not included in the current phase.

Published in Dawn, November 27th, 2025