Tuesday, June 18, 2024

Fly Jinnah, Air Blue, Habib Corporation & 5 Others Submit Expression of Interest for PIA

Federal Minister for Privatization, Board of Investment, and Communications Abdul Aleem Khan announced that the deadline for submitting offers to privatize Pakistan International Airlines (PIA) has ended.

The Privatization Commission received Expressions of Interest (EOIs) from eight major business groups. These offers were submitted both by individual companies and by groups of companies working together in consortiums. The next step is for the Privatization Commission to review these submissions and conduct a pre-qualification process. This process will follow the rules and regulations set out in the Privatization Commission Ordinance of 2000.

Among the companies that have shown interest in buying PIA are Fly Jinnah, Air Blue Limited, Habib Corporation, Sardar Ashraf D. Baloch, Shanxi CIG Limited from China, and Gerry’s International Private Limited.

Additionally, there are consortiums that have expressed interest. These include groups led by Younas Brothers Holdings (Private), Pak Ethanol, and Blue World City. Each of these consortiums consists of multiple companies working together to submit a joint offer.

Now that the offers have been received, the Privatization Commission will evaluate them to ensure they meet all the necessary criteria before moving forward with the privatization process. This evaluation is a critical step to ensure that only qualified and serious bidders are considered for the next stages of privatizing PIA. This privatization effort is part of a broader strategy to improve the efficiency and financial health of the airline, which has faced numerous challenges in recent years.

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