The first phase of the privatization process of the national airline has been completed, with three pre-qualified bidders submitting their bids. According to officials, the bids will be opened at 3:30 pm today.
In the next stage, the Privatization Commission Board will meet to determine the reference price. Once finalized, the reference price will be submitted to the Cabinet Committee on Privatization for approval.
Speaking to journalists after the completion of the first bidding phase, Privatization Adviser Muhammad Ali said that a major milestone in the sale of Pakistan International Airlines has been achieved. He added that the matter will now be presented to the Privatization Commission Board, which will review the reserve price.
The adviser clarified that the reserve price remains confidential and will only be disclosed after approval by the board, following which it will be sent to the Cabinet Committee for final endorsement.
He termed the development a significant step, noting that no major privatization has taken place in the country over the past 20 years.
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