ISLAMABAD: The Privatisation Commission is holding the bidding process for 75 percent shares of Pakistan International Airlines Corporation Limited (PIACL) today in Islamabad.
As per details, three bidder consortia led by Lucky Cement, Air Blue and Arif Habib Corporation submitted their sealed bids to acquire seventy-five percent shares in the PIACL in the first round.
After the approval of the reference price for PIACL by the Privatisation Commission Board and the Cabinet Committee on Privatisation, the sealed bids will be opened at 3:30 pm today in the presence of all three bidders.
The bids and the reference prices will be announced and the bidding will be concluded as per agreed terms.
Where to watch live
The entire privatization process would be telecast live and streamed across all TV channels and social media handles of the government and Privatization Division.
PM Shehbaz Sharif
The Prime Minister earlier said the privatisation process was progressing smoothly, intending to restore PIA’s lost identity and align the national flag carrier with contemporary global aviation standards.
He expressed confidence that, “InshaAllah, soon PIA will once again start living up to its traditions of ‘Great People to Fly With’.”
PM Shehbaz Sharif said that the government was ensuring full transparency and merit throughout the process.
He stated that the nationwide live telecast of the bidding would reflect the government’s commitment to openness.
PM Shehbaz maintained that the resumption of PIA’s global operations would greatly facilitate overseas Pakistanis and contribute to strengthening the aviation sector.
The Prime Minister also said that the importance of aligning the national airline with modern requirements to support the growth of Pakistan’s tourism industry.
Addressing the bidders, the Prime Minister expressed hope that whoever takes on responsibility after the bidding will dedicate their full efforts to restoring the airline’s image and ensuring its future development.
