Six companies chosen to bid for PIA
Six companies have been chosen for consideration in the bid to acquire Pakistan International Airlines (PIA).
This was announced by Pakistan’s Privatization Minister Abdul Aleem Khan.
Notably, this decision comes after an extension of the deadline, during which eight entities expressed interest.
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approves restructuring and investment
The finalists, including Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol (Pvt.) Consortiums, and YB Holdings Consortiums, have been confirmed by the Minister’s office.
The selected entities are now eligible to partake in the bidding process for PIA.
The government intends to divest a stake ranging from 51%
to 100% in the ailing airline, aligning with reform measures advised by the
International Monetary Fund (IMF).
Source: Profit Pakistan