PIA privatization: Commission to shortlist companies tomorrow

KARACHI: Eight companies have reportedly shown their interest in buying Pakistan International Airlines (PIA), ARY News reported citing sources. 

According to sources, a crucial meeting of the Privatization Commission will be held tomorrow to move forward with the process of privatizing PIA.

Sources said that the meeting will be a significant step forward in the privatization process, as eight local and foreign companies have already expressed interest in buying PIA.

These companies include Fly Jinnah, Airblue Limited, Arif Habib Corporation Limited, and Jerry’s International Private Limited.

Out of the 8 interested companies, 4 will be shortlisted and asked to submit their business plan and offer.

READ: Essential Services Act imposed in PIA

Sardar Ashraf D. Baloch Company will also participate in the bidding process in collaboration with SHANXI CIG Company Limited China.

Furthermore, three consortiums – Pak Ethanol Consortium, Blue World City Consortium, and YB Holding Private Limited Consortium – have also expressed interest in buying PIA.

Earlier today, the government enforced the Pakistan Essential Services (Maintenance) Act, 1952 allowing Pakistan International Airlines (PIA) to take punitive actions against employees who disobey lawful orders.

The Essential Services Act implemented on the orders of Ministry of Interior and for a period of six months.

According to a notification, the act was enforced to ensure uninterrupted airline operations.