Pak army-run fertiliser company in race to buy state-carrier PIA

On Monday (Dec 15), Pakistan’s Fauji Fertiliser Company announced its interest in acquiring stake in the loss-making national carrier Pakistan International Airlines (PIA). The information is in accordance with a filing with the Pakistan Stock Exchange (PSX). The fertiliser company is a unit of the army-run Fauji Foundation.

On December 23, the country will be making a second attempt to sell the loss-making airline. PIA is being privatised under the $7 billion International Monetary Fund (IMF) bailout plan. Earlier in 2024, a similar bid had taken place to sell the airline founded in 1946. Before running into controversies, PIA once had a good image.In January 2025, the airline published an advertisement celebrating the resumption of flights to Paris from Islamabad. The post read, “Paris, we're coming today,” and it was the visual that attracted flak. With the PIA flight moving towards the Eiffel Tower, netizens drew parallels to the 9/11 attacks.