SIFC to play role in selling of PIA to a foreign government
Pakistan International Airlines
(PIA) may soon be sold to a foreign government through the Strategic Investment
Facilitation Council (SIFC), as the Privatization Commission rejected a bid of
Rs10 billion from Blue World Consortium.
Pakistan aims to sell a 51-100%
stake in the debt-laden national carrier as part of efforts to raise funds and
reform state-owned enterprises under a $7 billion International Monetary Fund
(IMF) program.
Read More Pakistan
briefs GCC investors about PIA privatization process
Potential Buyers and Process
Sources reveal that a government-to-government (G2G) agreement is being
considered, with Qatar and Abu Dhabi emerging as potential buyers. The
Privatization Commission is reportedly preparing to invite expressions of interest
(EOIs) from foreign investors by November 30.
Earlier in October, the final
bidding process for PIA's privatization attracted just one bid—Rs10 billion
($36 million)—from Blue World City, a real-estate development company. The bid,
which offered to acquire a 60% stake, was significantly below the government’s
minimum price of Rs85 billion, leading to its rejection.
Terms and Conditions
Insiders suggest that several terms and conditions for the sale have already
been outlined to streamline negotiations with potential buyers.
Read More UAE
Aviation’s assessment continues at Pakistani airports
The sale of PIA is a critical part
of Pakistan’s broader strategy to reform loss-making state-owned enterprises,
reduce public sector debt, and comply with IMF requirements for economic
stability.
Source: ARY
News