AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, The Privatization Commission, under the leadership of Abdul Allem Khan, Minister for Privatisation and Chairman of the Commission, conducted its 219th meeting on June 3, 2024, to advance the divestment process for Pakistan International Airlines Corporation Limited (PIACL). Six out of eight interested parties have been pre-qualified for the next stage of the bidding process after thorough evaluation of their qualifications.
According to Privatisation Commission, the meeting focused on reviewing the recommendations from the pre-qualification committee concerning the Statements of Qualifications (SOQs) submitted by the potential bidders. The six entities that met the technical, financial, and documentary standards and were subsequently pre-qualified include Fly Jinnah Limited, Air Blue Limited, Arif Habib Corporation Limited, and three different consortia led by Y.B. Holdings, Pak Ethanol, and Blue World City.
The process began with an invitation for Expression of Interest (EoI) published on April 2 and 3, 2024, which resulted in eight submissions by the deadline of May 17, 2024. The selected parties will now move on to the buy-side due diligence phase as the next step in the privatization of PIACL.