Gerry’s International Fails to Meet Revenue Criteria for PIA Privatisation Bid

Islamabad: In a recent update concerning the privatisation of Pakistan International Airlines (PIA), it has been clarified that Gerry’s International, despite earlier rumors, did not qualify to participate in the bidding process due to insufficient combined annual revenues from its subsidiaries.

According to Press Information Department, Gerry’s International applied alone for the PIA privatisation but failed to meet the PKR 200 billion revenue prerequisite. The company had declared Gerry’s Dnata, among other subsidiaries, in its bid to satisfy the financial eligibility criteria required by the Privatisation Commission. Despite these efforts, the total income from these subsidiaries fell short of the necessary threshold, disqualifying them from the process.

This clarification comes in response to misleading social media claims suggesting that Dnata (Emirates) was barred from the privatisation opportunity. The reality, however, reflects a shortfall in the financial qualifications rather than any prohibitive measures against the company.

The post Gerry’s International Fails to Meet Revenue Criteria for PIA Privatisation Bid appeared first on pakistannewsgazette.com.