The Privatisation Commission Board announced that bidding for PIACL will take place on October 1, 2024. The meeting, chaired by Minister for Privatisation Abdul Aleem Khan, reviewed the current status of PIA’s privatisation and considered recommendations from the financial advisor regarding changes permitted under the Request for Statement of Qualification (RSOQ).
The Privatisation Commission has prequalified six bidders for the auction, including Fly Jinnah, a Consortium led by YB Holdings (Pvt) Limited, Airblue Limited, a Consortium led by Pak Ethanol (Pvt) Limited, Arif Habib Corporation Limited, and Blue World City.
This news comes after the Senate panel was informed that 75% of PIACL shares will be up for bidding by October. The auction presents a significant opportunity for investors and stakeholders in the aviation industry.
Privatisation of state-owned enterprises like PIACL is part of the government’s efforts to improve efficiency, reduce debt, and attract foreign investment. The bidding process will be closely monitored to ensure transparency and fairness for all parties involved.
Investors and industry experts are eagerly anticipating the outcome of the auction, as it will have far-reaching implications for the future of PIACL and the aviation sector in Pakistan. Stay tuned for updates on the bidding process and the final results of the auction on October 1, 2024.