Lone bidder places only Rs10bn bid for stake in PIA
KARACHI - The final bidding process for the privatisation of Pakistan International Airlines opened on Thursday, with just one participant for a stake in the national carrier.
The lone bidder has refused to increase the bid, stating that the government may continue to run the entity on its own if it did not want to sell it. The government had pre-qualified six groups in June, but only Blue World City met the deadline to submit final documents to participate in the process.
The disposal of PIA is a step former governments have steered away from as it has been highly unpopular given the number of layoffs that would likely result from it. Other concerns raised by potential bidders included inconsistent government communication, unattractive terms and taxes on the sector, in addition to PIA's legacy issues and reputation. The process of bidding for the privatisation of the Pakistan International Airlines began on Thursday.
Privatisation Sell-Off Stake IMF
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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