ISLAMABAD: Although the bidding deadline for the privatization of Pakistan International Airlines (PIA) is drawing near, just one consortium has filed prequalification documents.
According to people familiar with the matter, there are worries about possible delays in the sale with only one day remaining in the deadline.
In preparation for the October 31 auction, the Privatization Commission has invited important stakeholders and the media, and it has advised PIA staff to be on alert.
In response to the International Monetary Fund’s (IMF) request for completion by the end of September, the deadline was first extended to October 31.
Under its new loan program, which places a strong emphasis on economic reforms targeted at budgetary stability, the IMF has prioritized the privatization of state-owned businesses like PIA.
