PIA all set for fresh bidding after failed privatisation attempt last year
Pakistan International Airlines Corporation Limited (PIACL) is all set to enter the bidding process tomorrow (Tuesday) for its privatisation, with three bidders expected to submit their offers to acquire management control of the national carrier. Meanwhile, Fauji Foundation has withdrawn from the process, a PIA spokesperson confirmed. The three bidders are: A consortium comprising Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited A consortium comprising Arif Habib Corporation Limited, Fatima Fertiliser Company Limited, City Schools (Private) Limited, and Lake City Holdings (Private) Limited Air Blue (Private) Ltd. This will be the government’s second attempt to sell the national carrier after an earlier attempt to privatise collapsed last year amid weak investor interest and unresolved financial challenges.