Recently the government of the country expressed interest in selling Pakistan International Airlines (PIA). Originally, the government’s plan was to sell most of the shares of this government airline and give it to private ownership. But even after the last date of bidding, foreign companies are not interested in buying this airline.
Pakistani media ARY News has reported such news quoting a source. They said, only two companies from the Gulf countries have collected documents for investment by depositing $5,000.
According to a report by Saudi media outlet Arab News, two interested Gulf companies have not yet submitted their applications for the tender. In this situation, the last date for submission of tenders is on Friday, but it has been extended till May 18.
According to the report, Privatization Commission of Pakistan and PIA administration have conducted several exhibitions (road shows) in the past to attract buyers for the airline. But a source confirmed that these shows did not get much success.
Meanwhile, Pakistan’s Privatization Minister Abdul Aleem Khan claimed that 10 companies have already expressed interest. However, he could not specifically mention the name of any company.
The minister said that the commission has given approval to extend the tender submission date on the request of interested companies.
Pakistan’s government recently announced that it wants to sell a 51 percent stake in the loss-making airline to a private entity as part of reforms to the International Monetary Fund (IMF).
![Mumtaz Zahra Baloch, spokesperson for Pakistan's Foreign Ministry, says the country believes in constructive dialogue with the US [Courtesy of Pakistan Ministry of Foreign Affairs]](https://southasiancorrespondent.com/wp-content/uploads/2024/06/pak-1-390x220.jpg)
