Deadline for PIA bids extended to May 18
Pakistan has extended the deadline for expressions of interest in
purchasing the national airline, Pakistan International Airlines, until May 18,
according to the country's privatization minister.
The decision was made in response to requests from interested
parties, with 10 companies already indicating their interest.
Read More Pakistan
extends bid deadline for airports' outsourcing to May 15th
Among the bidders are Pakistani tycoon Arif Habib and
aviation-focused firm Gerry’s Group.
This move aligns with Pakistan's efforts to privatize a majority
stake in the airline, a decision prompted by recommendations from the
International Monetary Fund to undertake reforms.
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briefs GCC investors about PIA privatization process
Despite potential public backlash, this step is crucial for Pakistan
to engage in further discussions with the IMF and alleviate its financial
constraints.
Source: Arab News