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Business & Finance

PIA sell-off: 6 companies/consortiums pre-qualified for privatisation process

  • Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol Consortium, and YB Holdings Consortium included in the list
Published June 3, 2024

The Ministry of Privatisation on Monday said six companies/consortiums have been pre-qualified in the process of Pakistan International Airlines (PIA) privatisation.

The statement comes after a meeting of the Privatisation Commission Board, which was chaired by Federal Minister for Privatisation, Investment, and Communications Abdul Aleem Khan.

Bidding process for PIA to be aired live: Aleem

Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol Consortium, and YB Holdings Consortium are included in the list.

The board meeting decided that pre-qualified companies/consortiums would be able to participate in PIA’s bidding.

“We will ensure the transparent and swift privatisation of all loss-making institutions,” Aleem Khan was quoted as saying in the statement. “The technical and financial stability of the institutions participating in the privatisation process will be taken into account.”

PIA privatisation: Fly Jinnah, Air Blue among 8 entities that submit Statement of Qualifications

“We are privatising loss-making institutions to stabilise the national economy,” the minister added.

He also urged to broadcast the privatisation process live on media to ensure transparency.

Comments

200 characters
Tariq Jun 03, 2024 08:29pm
The prequalified firm list proves that lead Investors in Pakistan would be big local players. Same in India. Foreign investors always partner with local players. Alas Bhutto destroyed local tycoons
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Az_Iz Jun 03, 2024 08:29pm
It would be nice, to have Pakistani ownership.
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adnan Jun 04, 2024 12:19am
@Tariq, you are right, atleast someone agrees,, Bhutto destroyed Pak industry
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Fatima Jun 04, 2024 04:59am
So Gerry’s and Chinese consortium knocked out
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Ali Sher Jun 04, 2024 10:09am
Keep an eye on Blue World City. Does someone remember plot exploitation in Islamabad, &committing fraud with customers? I do remember. Please someone check the background of BWC. #5starsarebehindthem
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Ali Jun 04, 2024 10:27am
@Tariq,he distroyed nothing 22 families meet there logical ends because they had corrupt base building factories on buplic money and enjoyed the perks
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