The bidding process for the privatization of Pakistan International Airlines (PIA) took place on Thursday, with a strong emphasis on transparency as the event was broadcast live on television channels. The Blue World Consortium submitted a bid of Rs10 billion, significantly lower than the government’s minimum sale price of Rs85.3 billion for 60% of PIA’s shares.
Despite being given an additional 30 minutes to review their bid, the Blue World Consortium chose to maintain their offer, which was ultimately not accepted. Officials from the Privatisation Commission stated that the bidding results and the reserve price will be reported to the Privatisation Commission Board and the Cabinet Committee on Privatization for further consideration.
The government had pre-qualified six groups for the bidding process, but only the Blue World Consortium submitted a bid. This privatization effort is part of broader economic reforms aimed at reducing reliance on state-owned enterprises and improving service quality and profitability
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