Eight companies express interest in acquiring PIA

WEB DESK: The Federal Minister for Privatisation, Board of Investment, and Communications, Abdul Aleem Khan, has announced the closure of the extended time period for submitting offers for the privatisation of Pakistan International Airlines (PIA).

According to Khan, the Privatisation Commission has received Expressions of Interest (EOIs) from eight major business groups. These EOIs have been submitted both individually and in consortiums, marking the beginning of the pre-qualification process, as outlined in the rules and regulations of the Privatisation Commission Ordinance 2000.

Among the prominent entities that have submitted offers are Fly Jinnah, Air Blue Limited, Habib Corporation, Sardar Ashraf D. Baloch, Shanxi CIG Limited (China), and Gerry’s International Private Limited. Additionally, consortiums led by Younas Brothers Holdings (Private), Pak Ethanol, and Blue World City have also expressed their interest in the privatisation process.

Federal Minister Abdul Aleem Khan stated that the eight institutions have adhered to the stipulated time frame by submitting their Statements of Qualification and Expressions of Interest. Consequently, the Privatisation Commission will now proceed to invite eligible institutions for the subsequent stages of the bidding process.

Simultaneously, Federal Minister Abdul Aleem Khan inaugurated the three-day Pakistan Lifestyle Furniture Expo in Islamabad. Addressing the media as the chief guest at the event, Minister Khan highlighted the quality and affordability of Pakistani products, emphasising their competitiveness in global markets.

He particularly praised the international standard of Pakistani furniture and advocated for its promotion both domestically and internationally.

Minister Khan underscored the potential of the medium and small industries to carve a niche in the market with proper exposure and opportunities. He emphasised that bolstering trade abroad could lead to an increase in foreign exchange reserves and the creation of employment opportunities.

Khan extended his congratulations to the organisers of the expo and commended the quality and management of the showcased furniture during his tour of the exhibition.

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