Bidding deadline for PIA privatization extended by one month
In a recent turn of events, the
Privatization Commission has extended the bidding deadline for the
privatization of Pakistan International Airlines (PIA) by one month, moving it
to October 31, 2024.
The draft agreement is now expected
to be signed on October 25, with the deadline for submitting advance payments
rescheduled to October 28.
This unexpected extension has taken
many of the companies vying for PIA’s privatization by surprise. Aviation
insiders caution that the delay could have a negative impact on the overall
privatization process.
Read More Pakistan
extends deadline for PIA bids to May 18
Although the Privatization
Commission has not provided a detailed explanation for the decision, advance
deposits were originally due on September 27, 2024. Preparations for the
bidding process, initially scheduled for October 1, were reportedly complete.
A consortium of six private
companies, including Blue World City, Air Blue, Arif Habib, Fly Jinnah, Pak
Ethanol, and YB Holdings, remains in the running for PIA’s privatization.
Source: ARY News