Privatization of Pakistan International Airlines (PIA) Advances with Upcoming Bid Process
The privatization of Pakistan International Airlines (PIA) is set to move forward, with the bid process scheduled for October 1, 2024. This significant step follows a pivotal meeting chaired by Federal Minister for Investment Board, Communications, and Privatization Abdul Aleem Khan, where the privatization strategy for PIA was a central focus.
The Ministry announced that the bidding for PIA’s privatization will occur on October 1, 2024. During the meeting, the Privatization Commission Board assessed the current status of privatization efforts and deliberated on recommendations from the financial advisor regarding necessary adjustments to the qualifications for potential bidders.
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The Privatization Commission has pre-qualified six bidders for this process, which includes notable contenders such as Fly Jinnah, a consortium led by YB Holdings Pvt Ltd, and Airblue Limited. Additionally, another consortium led by Pak Ethanol Pvt Ltd, along with Arif Habib Corporation Limited and Blue World City, has also expressed interest in the bidding process.
This move marks a crucial step in the government’s efforts to revitalize PIA and improve its operational efficiency through privatization.
