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Eight parties finalized to bid PIAC:PC

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ISLAMABAD: The Privatization Commission has said that eight bidders have been finalized to participate in next step of the bidding of Pakistan International Airlines (PIAC). Accordingly, the prequalified parties will be invited for the next stage of bidding process.

A statement of the Privatization Commission said Friday that in response of the invitation of Expression of Interests (EoIs), eight parties  have shown their interest to purchase 51 per cent shares of the national flag carrier PIAC.

The last date of submission of EoIs/ statement of Qualification was 1600 hours on 17th may 2024 (Today).

The Priviatisation Commission has received Statement of Qualification from (1) Fly Jinnah, (2) Air Blue Limited (3) Arif Habib Corporation Limited, (4) Sardar Ashraf D. Baluch – SHANXI CIG Co Ltd (China), (5) Gerry’s International (Pvt) Limited (6) Consortium led by Y.B. Holding (PVT) Limited (7) Consortium led by Pak Ethanol and (8) Consortium led by Blue World City.

The statement further said that Privatisation Commission will now carry out the pre-qualification process in line with the criteria laid down in the RSOQs, under the PC Ordinance 2000 and rules and regulations framed thereunder. “Accordingly, the pre-qualified parties will be invited for the next stage of bidding process,” the statement added.

Earlier, the federal minister for privitization extended the privatisation offers for PIA until May 17 (Today), allowing more time for interested parties to participate.

With eight major business groups expressing interest, the stage is set for a competitive bidding process, which will ultimately benefit the national airline and the country’s economy.

Finance Minister Muhammad Aurangzeb, while addressing Saudi Arabia Investment Forum few days back, had said that the privatisation of PIA to be completed by the “end of June or early July”.

“Our prime minister has been very clear that the government has no business being in business and therefore, we need to and we will accelerate the privatisation agenda,” the minister said.

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