Preparations by the Privatization Commission for the bidding process of Pakistan International Airlines (PIA) have been completed, according to sources. The bidding will take place today afternoon at a local hotel in Islamabad, starting at 1:30 PM, with bid opening scheduled for 6:30 PM.
The final approval for PIA’s privatization will be sought in today’s Privatization Commission Board meeting, followed by approval from the Cabinet Committee on Privatization. Additionally, the federal cabinet will approve PIA’s reserve price through a circulation summary.
Sources reveal that so far, only the Blue World City consortium has submitted documents, with no other group participating. The Privatization Commission had extended the bidding deadline to October 31, after the International Monetary Fund (IMF) set an initial deadline for the end of September.
The government expects the privatization to save billions annually by reducing the airline’s debt and losses.
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