PIA privatisation bid set for October 1
Pakistan International Airlines Takes Flight Toward Privatization: Bidding Opens October 1st!
The future of Pakistan International Airlines (PIA) is taking off! The airline’s long-awaited privatization process is nearing its final stage, with bidding officially set to begin on October 1st, 2024.
Read More: PIA to be Privatised Next Month: October 1st 2024
Privatization Board Meeting Paves the Way for Bidding:
This development follows a critical meeting chaired by Federal Minister Abdul Aleem Khan, overseeing the Investment Board, Communications, and Privatization. The Privatization Commission Board meeting focused on finalizing the PIA privatization process.
Key Takeaways from the Meeting:
- October 1st Bidding Date Confirmed: Mark your calendars! The official date for potential investors to submit bids for PIA has been confirmed as October 1st, 2024.
- Reviewing the Privatization Journey: The board carefully assessed the current state of the privatization efforts, ensuring a smooth and transparent process.
- Bidder Qualifications Under Review: Financial advisor recommendations regarding potential bidder qualifications were discussed and may be subject to adjustments for a more competitive selection.
Pre-Qualified Bidders Ready for Takeoff: PIA privatisation bid set for October 1
The Privatization Commission has shortlisted six qualified bidders who will participate in the official bidding process. These include:
- Fly Jinnah: A domestic airline aiming to expand its services.
- YB Holdings Pvt Ltd Consortium: A group of investors potentially seeking a stake in PIA.
- Airblue Limited: A Pakistani low-cost airline with an eye on growth.
- Pak Ethanol Pvt Ltd Consortium: A consortium led by a Pakistani ethanol producer, potentially seeking diversification opportunities.
- Arif Habib Corporation Limited: A leading Pakistani financial services group.
- Blue World City: A real estate development company with a potential interest in the airline industry.
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