ISLAMABAD: As the Privatisation Commission (PC) has not received any expressions of interest (EoIs) for the divestment of Pakistan International Airlines Corporation Ltd (PIACL), the government on Tuesday extended the deadline for submission to June 19.

The commission announced that, while the deadline has been extended from June 3 to June 19, the remaining terms and conditions, as announced last month, remain unchanged.

Meanwhile, the PC has held two roadshows in Karachi and Lahore to attract investors to acquire 51 to 100 percent share capital, along with management control of PIACL. The governmentexpects the PIACL transaction to be completed by the end of 2025.

The added incentives for investors include exemption from general sales tax on the induction of aircraft through lease or purchase, coverage against certain tax and litigation claims, and additional support to improve the effective net equity position on PIA`s balance sheet, which may include indemnification or transfer of certain liabilities.

The demand in the under-served Pakistani aviation market is expected to grow at a compound annual growth rate of 6.2 per cent from FY25 to FY29, according to the Privatisation Commission.-Reporter