ISLAMABAD: The Privatization Commission Board has pre-qualified four investors for Pakistan International Airlines (PIA) during its meeting, ARY News reported.
Privatization Minister Muhammad Ali chaired the 273rd meeting of the board which also approved the transaction structure for the Roosevelt Hotel deal.
According to a statement issued here, the pre-qualification committee reviewed applications from five potential investors, with a thorough evaluation leading to the selection of four qualified companies.
The pre-qualified consortia include Lucky Cement Limited and Hub Power Holdings Limited in the first group, Kohat Cement Company Limited and Metro Ventures Limited in the second, Arif Habib Corporation Limited and Fatima Fertilizer Company in the third, alongside City Schools Limited and Lake City Holdings, while Fauji Fertilizer features in the third consortium and Airblue in the fourth.
These consortia will now proceed to the due diligence phase. The board also endorsed the Roosevelt Hotel transaction structure, aimed at maximizing long-term value for the country.
Read more: Govt moves ahead with PIA privatization, issues official advertisement
Earlier, the Privatization Commission decided not to extend the deadline for submitting bids for the privatization of Pakistan International Airlines (PIA).
The commission has decided to keep final date set for June 19, 2025, according to an official statement.
The Privatization Commission of Pakistan has received Expressions of Interest (EOIs) from eight companies for PIA’s privatization. As of now, applications from five companies have been submitted, the statement added.
This development follows the government’s renewed push to privatize the national flag carrier. The privatization (PIA) is likely to complete by November 2025,
According to sources, the government of Pakistan is planning to sell fifty percent shares of the national airline. Sources further revealed that domestic and international groups have shown interest in buying PIA shares.
from ARY NEWS https://ift.tt/aQWHOsz
