The Privatisation
Commission Board has approved the inclusion of AKD Group Holdings (Pvt.)
Ltd in the consortium led by Arif
Habib Corporation Limited (AHCL) for the bidding process of Pakistan International Airlines Corporation
Limited (PIACL).
The decision, made under the
provisions of the Statement of Qualifications (SOQ), strengthens one of the
four pre-qualified groups competing in the national carrier’s privatization
process.
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Commenting on the development, Advisor to the Prime Minister Khurram Schehzad said the Board reaffirmed its firm commitment to advancing the government’s privatization agenda with transparency, efficiency, and strategic focus.
Members expressed a shared resolve
to overcome previous challenges and ensure the timely and successful completion
of ongoing transactions in line with Pakistan’s broader reform objectives.
The Board also endorsed a reference
price for the privatization of House Building
Finance Company Limited (HBFCL), along with the terms of the Sale Purchase
Agreement, for submission to the Cabinet
Committee on Privatization (CCoP).
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HBFCL’s privatization is being conducted through a negotiated sale to the Pakistan Mortgage Refinance Company Limited (PMRCL), a pre-qualified bidder. The CCoP and Federal Cabinet had earlier approved, in July 2023, proceeding with a single-bidder negotiated sale. PMRCL has now submitted its bid, which will be opened following the CCoP’s approval of the reference price and its ratification by the Cabinet.
Source: Pro Pakistani