PIA privatisation: Consortiums to 'visit' airline's HQ next week

KARACHI: The federal government has accelerated the privatisation process of Pakistan International Airlines (PIA), with four shortlisted consortiums set to visit the airline’s headquarters next week, ARY News reported on Friday, citing sources. 

According to insiders, these investor groups will be given detailed briefings at PIA Headquarters in Karachi.

The briefings will cover various aspects including human resources, financials, fleet size, as well as domestic and international operations.

Senior officials of PIA have been instructed to ensure full preparedness ahead of the visits. In a major development, all four shortlisted investor groups will be granted access to PIA’s official business records before the bidding phase begins.

The move is aimed at helping the potential investors evaluate PIA’s business model and operations in order to submit informed and competitive bids.

Read more: PIA’s Roosevelt Hotel transaction structure finalised

Earlier on Tuesday, the Privatization Commission Board pre-qualified four investors for Pakistan International Airlines (PIA) in its meeting.

Privatization Minister Muhammad Ali chaired the 273rd meeting of the board.

According to a statement issued, 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.