We present you a list of 10 companies interested in buying PIA. Reports from ARY News reveal that ten companies, including three domestic aviation firms, have expressed keen interest in acquiring majority stakes in Pakistan International Airlines (PIA).
Also read: Bilawal Bhutto opposes PIA’s privatisation
Here’s a list of 10 companies interested in buying PIA
Among the notable contenders are;
- Fly Jinnah
- AirSial
- Arif Habib Group
- Shujaat Azeem Group’s consortium
- Tabba
- Tariq Group
- Sehgal Group
Deadline Extension:
Originally set for May 3, the deadline for PIA’s privatization has been extended to May 18.
This extension aims to provide ample time for the interested companies to finalize their proposals.
Strict Deadline:
Federal Minister for Privatization, Abdul Aleem Khan, has underscored that there will be no further extensions beyond the May 18 deadline for submission of interest declarations concerning the national flag carrier.
Challenges in Privatization:
Despite concerted efforts, including roadshows organized by the Privatization Commission and PIA administration, progress in the privatization process has been limited, according to insider sources.
AGM Delay:
PIA’s annual general meeting (AGM) faced a delay, with the airline requesting a 30-day extension.
This request, attributed to incomplete financial accounts and audits, is reportedly linked to the ongoing privatization proceedings.
AGM Rescheduled:
With the extension granted, the AGM is now expected to convene by May 30, allowing for the necessary financial disclosures and adjustments in light of the privatization process.
Also read: Another PIA flight attendant goes missing in Canada this week
