Privatisation Commission delays PIA sale process by one month

ISLAMABAD: The Privatisation Commission has extended the bidding deadline for the privatisation of Pakistan International Airlines (PIA) by one month, now set for October 31, 2024.

According to Jang, this decision has also pushed back related timelines: the draft agreement is now expected to be signed on October 25, and the submission of advance payments has been rescheduled for October 28.

The abrupt extension has caught interested companies off guard. According to aviation sources, this delay could potentially disrupt the privatisation process.

While no clear reason has been given for the extension, it is notable that advance deposits were originally due by September 27, 2024.

Despite this setback, all necessary arrangements for the bidding had reportedly been completed for the initial deadline of October 1.

A consortium of six companies, including Blue World City, Air Blue, Arif Habib, Fly Jinnah, Pak Ethanol, and YB Holdings, remains in the running to acquire PIA.

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