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Earlier, Pakistan International Airlines (PIA) was to go under the hammer on Tuesday | Photo: Shutterstock
The bidding for Pakistan’s national airline has been delayed to Oct 31, two government officials at the ministry of privatisation said on Tuesday.
A Pakistani parliamentary committee of privatisation had earlier been informed that Pakistan International Airlines (PIA) would go under the hammer on Tuesday.
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The officials, however, said the bidding had been delayed another month at the request of the bidders who wanted more time to prepare for the auction.
They spoke on condition of anonymity because they were not authorised to disclose the information before an official announcement about the delay.
A spokesman for the privatisation ministry did not respond to a request for a comment.
Six parties have been pre-qualified for the bidding, which included Fly Jinnah, Airblue Ltd, a consortium led by Pak Ethanol (Pvt) Ltd, a consortium led by YB Holdings (Pvt) Ltd, Arif Habib Corporation Ltd and Blue World City.
Pakistan’s government has previously said it would sell between 51-100 per cent of the loss-making airline as part of reforms urged by the International Monetary Fund (IMF).
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 01 2024 | 12:58 PM IST