ISLAMABAD: After quite a few delays within the public sale of the loss-making Pakistan Worldwide Airways (PIA) Company, the federal government lastly determined to carry the bidding on October 30.
Parliamentary Secretary for Communication Gul Asghar Khan revealed the date on Wednesday in the course of the seventh session of the Nationwide Meeting in response to Pakistan Peoples Get together (PPP) MNA Sharmila Faruqui.
Sources aware of the event had mentioned that the bidding course of was delayed owing to the low bidder curiosity and unresolved points. The method was earlier scheduled for October 1.
The sources added that the delay could have resulted from points together with unresolved courtroom instances, fleet ageing and civil aviation points.
Through the meeting session immediately, Khan mentioned the privatisation of the state-owned entity was an in depth course of carried out below the frilly construction of privatisation.
The method was initiated in February 2024 and can be finalised on October 30, he apprised the lawmakers.
The parliamentary secretary mentioned the method concerned completely different establishments together with the Privatisation Fee Board chaired by the minister and the secretary Privatisation Fee Usman Bajwa.
The PIA’s privatisation determination, he mentioned, was authorised by the Cupboard Committee on privatisation. “PIA belongings have been parked individually as its operational belongings have been separated whereas ultimate public sale can be held below PIA Company on October 30.”
Final month, Bajwa knowledgeable the Nationwide Meeting’s Standing Committee on Privatisation that the ultimate bid paperwork had been shared with six pre-qualified bidders.
The six consortia that had been pre-qualified to bid for a 60% stake in PIA, included Fly Jinnah Restricted, Air Blue Restricted, Arif Habib Company Restricted, a consortium led by YB Holdings (Non-public) Restricted, a consortium led by Pak Ethanol and Blue World Metropolis.