ISLAMABAD (Reuters) – Pakistan on Monday selected six companies qualified to bid to buy national carrier Pakistan International Airlines, privatisation minister said.
The announcement came a couple of weeks after Pakistan had extended the date for submitting expressions of interest. A total of eight companies and consortiums had expressed an interest.
Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol (Pvt) Consortiums, and YB Holdings Consortiums emerged as the finalists, said a statement from the office of the minister, Abdul Aleem Khan.
“The pre-qualified companies can take part in the bids for the PIA,” Khan said.
Pakistan’s government has previously said it was putting on the block a stake of between 51% and 100% in the loss-making airline as part of reforms urged by the International Monetary Fund (IMF).
The disposal of the flag carrier is a step that past elected governments have steered away from as it is likely to be highly unpopular.
The privatisation of loss-making state-owned enterprises has been one of the top agenda items in recent talks between cash-strapped Pakistan and the IMF.
Islamabad has said it will privatise all state-owned enterprises, with the exception of strategic entities.
(Reporting by Asif Shahzad; Editing by Alex Richardson)
