The Privatization Commission has announced that bidding for the Privatization of 75 percent shares of Pakistan International Airlines (PIA) will be held today.
According to the commission, sealed bids will be submitted by 10:30 am, while the bids will be opened at 3:30 pm in the presence of the bidders. During the bid-opening ceremony, the reference price and the received bids will be announced.
The commission stated that final approval of PIA’s reference price will be given by the Cabinet Committee on Privatization after the bids are received.
Prime Minister’s Adviser on Privatization, Muhammad Ali, will hold a press conference after the bidding process to brief the media on the details of the privatization.
The commission added that PIA’s Privatization is being carried out under Prime Minister Shehbaz Sharif’s economic reform agenda, and the government is committed to completing the process in a transparent, credible, and rules-based manner.
The bidding process will be broadcast live on all television channels and state media to ensure complete transparency for the public and investors.
According to the Privatization Commission, this privatization aims to restore the national airline to its former glory.
