Pakistan's PIA bidding set for December 23

If completed, it would be country’s first key privatisation in nearly two decades

- BY STEPHEN N.R.

The bidding process for Pakistan International Airlines (PIA) will take place on December 23 and be broadcast live across all media platforms, Dawn reported.

The government is seeking to divest between 51 and 100 per cent of the national carrier under a $7 billion International Monetary Fund programme aimed at overhauling state-owned enterprises. If completed, it would be the country’s first major privatisation in nearly two decades. Four parties have been pre-qualified for the transaction: Lucky Cement Consortium, Arif Habib Corporation Consortium, Fauji Fertiliser Company Limited and Airblue Limited.