ISLAMABAD: Following a lackluster bid of Rs10 billion from a solitary bidder, Federal Minister for Privatization Abdul Aleem Khan announced Monday that the government would resume the bidding process for the privatization of the financially troubled Pakistan International Airlines (PIA).
Aleem informed senators on the PIA privatization initiatives during a meeting of the Senate Standing Committee on Privatization, which was presided over by Senator Talal Chaudhry.
He informed the group that after previous initiatives had encountered difficulties, such as a lack of buyer interest and bids that were much below the benchmark value, the government intended to issue new expressions of interest (EOIs).
Investors left the national carrier after the government considered selling a sizable portion of it, leaving just Blue World.
