Six parties pre-qualify for PIA divestment

ISLAMABAD   -   The Board of the Privatization Commission on Monday decided to pre-qualify 06 interested parties for the divestment of national carrier Pakistan International Airlines (PIA). The meeting of Privatisation Commission Board was held under the chairmanship of Minister for Privatisation/Chairman Privatisation Commission, Abdul Allem Khan to review the recommendations of the pre-qualification committee in light of the results of the scrutiny/evaluation of Statement of Qualifications (SOQs) submitted by eight interested parties for divestment of Pakistan International Airlines Corporation Limited (PIACL).

The Board, after detailed deliberations and keeping in view the criteria including technical, financial and documentary requirements stipulated in the RSOQ, decided to pre-qualify six interested parties namely (1) Fly Jinnah Limited, (2) Air Blue Limited, (3) Arif Habib Corporation Limited, (4) Consortium Lead by Y.B. Holdings (Private) Limited (Consortium members comprises Pioneer Cement Limited, Artistic Milliners Limited, ANS Capital Private Limited, Metro Ventures Private Limited), (5) Consortium Lead by Pak Ethanol (Consortium members comprises AirSial Limited, Serene Airlines Private Limited, Liberty Daharki Power Limited), and (6) Consortium Lead by Blue World City (Consortium members comprises Blue World Aviation, IRIS Communication Limited). RSOQ provides that consortium members (not LEAD) can be added/replaced, with the permission of Privatisation Commission, 15 days prior to bid submission date provided that the proposed new member of consortium and the consortium meets the requirements of RSOQ.

The pre-qualified interested parties will be invited to the next stage of bidding process to start buy-side due diligence. Earlier, in response to the Invitation of Expression of Interest (EoI), for divestment of Pakistan International Airlines Corporation Limited (PIACL), published advertisement in leading national and international newspapers on 2nd & 3rd April, 2024, Privatisation Commission had received statement of qualifications from eight interested parties by the last date i.e. 17th May 2024.

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