Web desk: The federal government moved forward with the privatisation of Pakistan International Airlines (PIA) after receiving three separate bids during the first phase of the process, according to official sources.
The Privatisation Commission conducted the bidding through an open and live-televised session. For the sale of a 75 per cent stake in Pakistan International Airlines Corporation Limited (PIACL).
PIA bidding
Interested parties submitted sealed bids as part of the initial auction stage.
One bid was submitted by a consortium led by Lucky Cement Limited. Alongside Hub Power Holdings Limited, Kohat Cement Company Limited, and investment firm Metro Ventures.
The second bid came from Air Blue (Private) Limited, a leading private airline operating in Pakistan.
A third offer was submitted by a consortium headed by Arif Habib Corporation Limited. This includes Fatima Fertiliser Company Limited, City Schools, and Lake City Holdings Limited.
Adviser to the Prime Minister on Privatisation Muhammad Ali confirmed that the first phase of the bidding process has been completed successfully.
He further added, “The bids will now be submitted to the Privatisation Commission Board, which will review the reserve price.”
Adviser to the Prime Minister on Privatisation, Muhammad Ali, said, “This is a major milestone as no large-scale privatisation has taken place in the last 20 years.”
The Privatisation Commission held the bidding process for 75 per cent shares of Pakistan International Airlines Corporation Limited (PIACL) today in Islamabad.
The entire privatisation process was telecast live and streamed across all TV channels. And social media handles of the government and the Privatisation Division.
