The Senate Standing Committee on Privatisation was informed on Thursday that Guddu and Nandipur power plants are ready for privatisation, while preparations for the phased sale of power distribution companies (DISCOs) have been completed from the government’s side.

The Power Division told the committee that all DISCOs will be privatised under a phased plan. Islamabad, Faisalabad and Gujranwala DISCOs will be offered in the first phase, followed by Peshawar and Sukkur in the second phase, and Lahore, Multan and Hyderabad DISCOs in the third.

Officials said provinces were offered the option to take over DISCOs but declined, prompting the federal government to proceed with privatisation. Most preparatory work has been completed, and bidding for the first three DISCOs is expected to begin in January, with completion targeted by mid-next year.

The Privatisation Commission informed the committee that bidding for Pakistan International Airlines will be held on December 23 and broadcast live. Between 51 and 100% of PIA shares will be offered, with each bidder required to deposit Rs2 billion as earnest money.

Officials said all bidders have completed due diligence and have been given access to PIA’s records, routes and facilities. Key issues related to taxes, GST exemptions and legacy liabilities have been resolved after consultations with the IMF.

The committee was told that routes to the UK and Europe have reopened and that the successful investor will be required to inject Rs80 billion into PIA immediately after privatisation. Only the airline’s core aviation business will be privatised, while assets such as the Roosevelt Hotel and other properties will remain with the government.

The committee directed the Privatisation Commission to ensure transparency and to submit a list of PIA’s foreign properties, including their addresses and market values.

The committee also considered the Privatisation Commission (Amendment) Bill, 2025, and was informed that the proposed amendments are intended to ensure consistency with existing laws and Supreme Court directions.

In addition, officials said Pakistan Minerals Development Corporation, Saindak Metals Limited and National Insurance Company Limited have been included in the privatisation list, with the process currently at an initial stage. The committee directed that it be briefed again after approval by the Cabinet Committee on Privatisation.