The Privatization Commission Board on Tuesday cleared four parties for the sale of Pakistan International Airlines Corporation Limited (PIACL). Adviser to the Prime Minister on Privatization, Muhammad Ali, chaired the 237th Board meeting where members approved the prequalified bidders.
The Board accepted recommendations from the Prequalification Committee, which examined five Statements of Qualification (SOQs). Each bidder needed to meet strict technical, financial, and documentary requirements under the Request for Statement of Qualification (RSOQ).
After careful review, the Board selected four parties for the next stage. These include a mix of leading cement producers, major fertilizer companies, an education group, and a private airline.
The pre-qualified parties are:
- A consortium of Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited.
- A consortium of Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, City Schools (Private) Limited, and Lake City Holdings (Private) Limited.
- Fauji Fertilizer Company Limited.
- Air Blue (Private) Limited.
Next, these companies will begin buy-side due diligence. They will study PIA’s financial and operational details to prepare strong bids. This phase ensures a fair and competitive privatization process for the national airline.
For years, the government has struggled to turn PIA around. Now, it plans to partner with the private sector to revive the airline’s fortunes. This step is part of a wider effort to reform loss-making state-owned firms.
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With Cement, Fertilizer Firms and Air Blue Among Pre-Qualified Bidders for PIA Privatization, Pakistan aims to ease pressure on public funds and deliver on its IMF reform promises.
The coming months are crucial. The government expects these bidders to submit final offers soon. A successful deal could bring fresh investment, modernize the airline, and set a strong precedent for future privatizations.
