Six companies shortlisted to bid for PIA M Haris

Pakistan has shortlisted six companies to bid for the acquisition of the national carrier, Pakistan International Airlines (PIA), according to the privatisation minister.

It is pertinent to note that this announcement follows an extension of the deadline for submitting expressions of interest, during which eight companies and consortiums expressed their interest in the acquisition.

The finalists include Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol (Pvt) Consortiums, and YB Holdings Consortiums, as stated by Abdul Aleem Khan’s office.

“These pre-qualified companies are now eligible to participate in the bidding process for PIA,” the minister said.

The government plans to sell a stake ranging from 51% to 100% in the struggling airline as part of reform measures recommended by the International Monetary Fund (IMF).