PIA privatisation: KP govt offers bid more than Rs10 billion
01 November, 2024 21:33
The Khyber Pakhtunkhwa government has formally expressed interest in participating in the privatization bid for Pakistan International Airlines (PIA).
The Khyber Pakhtunkhwa Investment Board has written to the Federal Minister for Privatization, outlining its intention to submit a bid higher than the consortium’s offer of Rs10 billion.
The federal government has set a minimum price of Rs8.53 billion for PIA’s privatization. However, the sole bidder, a consortium, offered Rs10 billion for a 50% stake, which was deemed insufficient.
The KP Investment Board’s letter states that PIA, being the national airline, holds significant assets vital to the nation.
Six bidders were included in the Privatisation Commission’s pre-qualifiers list, including FLY Jinnah, PIA, a consortium led by YB Holdings (Pvt) Ltd, Airblue Ltd, a consortium led by Pak Ethanol (Pvt) Ltd, Arif Habib Corporation Ltd, and Blue World City.
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