First Phase of National Airline Privatization Completed -

PAKISTAN

The first phase of the privatization process of the national airline has been completed, with three pre-qualified bidders submitting their bids for the acquisition.

According to officials, the bids will be opened at 3:30 pm, after which the reference, or reserve, price will be determined in a meeting of the Privatization Commission (PC) Board. Once finalized by the board, the reference price will be presented for approval before the Cabinet Committee on Privatization.

Speaking to reporters after the conclusion of the initial bidding phase, Privatization Adviser Muhammad Ali said that the process had successfully crossed a key milestone. He explained that the next step involves the PC Board’s review and approval of the national airline’s reserve price, which remains confidential at this stage.

Following the board’s approval, the matter will be taken to the Cabinet Committee on Privatization for final endorsement of the reserve price, he added.

Muhammad Ali described the development as a significant step forward, noting that no major privatization initiative has been carried out in the country over the past two decades. He expressed optimism that the completion of the first phase would pave the way for progress in the remaining stages of the privatization process. – ER Web Desk

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