On Monday, the privatization minister announced that Pakistan has identified six qualified companies to bid for the acquisition of the national carrier Pakistan International Airlines (PIA). This announcement follows the extension of the deadline for submitting expressions of interest a few weeks ago, during which eight companies and consortiums had expressed interest.
The finalists selected are Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol (Pvt) Consortiums, and YB Holdings Consortiums, as stated in a release from the office of Abdul Aleem Khan.
“The selected companies are eligible to participate in the bidding process for PIA,” stated the minister.
Previously, the government had announced plans to sell a stake ranging from 51% to 100% in the financially struggling airline as part of reforms recommended by the International Monetary Fund (IMF).
