PIA’s shortlisted bidders to move to next phase in privatization
Pakistan has advanced its efforts to
privatize the loss-making Pakistan International Airlines (PIA), as all four
shortlisted investor groups are set to begin due diligence next week, officials
confirmed.
The selected consortia will visit
PIA’s headquarters in Karachi for comprehensive briefings covering the
airline’s operations, finances, and strategic plans. This marks a crucial phase
in the transparent and competitive privatization process, allowing potential
buyers to gain a detailed understanding of PIA’s performance and prospects.
Read More Bidders
demand full ownership as PIA privatization approaches
During these sessions, PIA will
share detailed information about its fleet, domestic and international routes,
employee structure, revenue streams, and operational challenges. The airline’s
management has been instructed to provide full access to official records and
respond to investor queries promptly.
The due diligence process follows
the July 8 decision by the Privatization Commission Board, which pre-qualified
four bidders. These include two consortiums:
- Consortium 1:
Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures
- Consortium 2:
Arif Habib Corporation, Fatima Fertilizer, City Schools, and Lake City
Holdings
- Individual bidders:
Fauji Fertilizer Company and Air Blue (Pvt.) Ltd.
These pre-bid briefings are
considered essential for investors to assess the airline’s risks, liabilities,
and growth potential before submitting final offers. Officials say that by
ensuring access to real-time operational data, the government aims to
facilitate informed, competitive, and credible bidding.
Read More Govt
attracts five potential buyers for PIA in major privatization push
PIA’s privatization is a key element
of Pakistan’s broader economic reform plan, focused on shedding loss-making
state-owned enterprises and encouraging private sector investment and
efficiency. If successful, the initiative could signal a fresh start for PIA
and the country’s aviation industry.
Source: The News