Fauji Fertilizer Company Limited (FFC), one of the biggest fertilizer companies in Pakistan, has officially announced its interest in buying shares of Pakistan International Airlines (PIA). PIA is currently going through a privatization process as part of the government’s effort to improve the performance of state-owned companies.
In a formal notice sent to the Pakistan Stock Exchange (PSX), FFC stated that its board of directors has approved the decision to submit an Expression of Interest (EoI) along with the required documents for prequalification. This step shows that FFC is seriously considering becoming a part-owner of the national airline.
The government is planning to sell between 51% and 100% of its stake in PIA. This move is part of a larger plan to reform and privatize loss-making state-owned enterprises (SOEs) under the requirements of the International Monetary Fund (IMF) program. The goal is to make these organizations more efficient, reduce financial losses, and lessen the burden on the national budget.
It is worth noting that an earlier attempt to privatize PIA did not succeed because the offers received were lower than what the government had expected. However, this new round of privatization has generated more interest from potential investors.
The last date to submit Expressions of Interest for PIA’s privatization is June 19, 2025.
