PIACL Announces 75% Share Sale via Open Bidding on Today

The Privatisation Commission would hold an open bidding for 75 percent shares of Pakistan International Airlines Corporation Limited (PIACL). The sealed bids would be submitted in the morning at 10:30 am by the bidders.

The reference price for PIACL’s bidding would only be approved by the Privatisation Commission Board and the Cabinet Committee on Privatisation after bids have been received.

The bids would be opened in a ceremony starting at 3:30 pm in the presence of the bidders.

The bids and the reference prices would be announced and the bidding would be concluded as per agreed terms.

The event would be telecast live on TV and digital media.

Adviser to the Prime Minister on Privatisation, Muhammad Ali would also hold a press conference after the conclusion of the bidding process.

The privatization of PIA is being undertaken as part of Prime Minister Muhammad Shehbaz Sharif’s economic reform agenda.

As the government is committed to ensuring transparency, the whole privatization process would be telecast live and streamed across all TV channels as well as respective social media handles of the government and Privatization Division in line with the vision of the Prime Minister for transparent and trustworthy privatization activity.

PIACL, the national carrier, is being privatized to ensure ‘the legend returns to the glory’.