PAKISTAN AIRLINE

Bidding for Pakistan International Airlines privatization falls short of government expectation

epa11696040 Pakistan International Airlines planes parked at Jinnah International Airport in Karachi, Pakistan, 01 November 2024. The privatization of Pakistan International Airlines (PIA) hit a setback when the only bid - submitted by the Blue World City consortium - fell significantly short of the government's expected price. With an offer of Rs10 billion against a minimum target of Rs85.03 billion, the bid was nearly Rs75 billion below expectations. Though the government, which had pre-qualified six groups earlier this year, offered the consortium additional time to reconsider its offer, Blue World City's chairman Saad Nazir maintained the original bid, leaving the privatization process uncertain. EPA/SHAHZAIB AKBER BEST QUALITY AVAILABLE

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