Major development emerges in privatization of PIA
- By Salah Uddin -
- Sep 27, 2024
ISLAMABAD: In a recent development, the Privatization Commission has extended the bidding date for the privatization of Pakistan International Airlines (PIA) by one month, pushing it to October 31, 2024, ARY News reported on Thursday.
Following the extension, the draft agreement is now set to be signed on October 25, 2024, while the deadline for submitting advance money has been moved to October 28, 2024.
The sudden decision to extend the bidding deadline has left companies interested in PIA’s privatization surprised.
READ: PIA privatization bidding on Oct 1st, NA body informed
Aviation sources warn that this extension could negatively impact the privatization process.
The Privatization Commission has not provided a clear explanation for the abrupt change, though advance deposits were initially due by September 27, 2024.
Despite the extension, all preparations for the bidding were reportedly in place for the original deadline of October 1.
A consortium of six private companies, including Blue World City, Air Blue, Arif Habib, Fly Jinnah, Pak Ethanol, and YB Holdings, remains in the race for PIA’s privatization.