ISLAMABAD – The first phase of the privatisation process of the national airline has been completed, with three pre-qualified bidders submitting their bids, officials said on Tuesday.
Sources in the Privatisation Commission said the bids will be opened at 3:30pm, after which the Privatisation Commission Board will meet to determine the reference, or reserve, price for the transaction.
Following the board’s decision, the reference price will be forwarded to the Cabinet Committee on Privatisation (CCOP) for final approval.
Adviser to the Prime Minister on Privatisation Muhammad Ali, while speaking to journalists after the completion of the initial bidding stage, said the process for the sale of the national airline had entered a critical phase.
He said the matter would now be placed before the Privatisation Commission Board, which would review the bids and assess the reserve price.
He clarified that the reserve price would remain confidential and would only be disclosed to the Cabinet Committee after approval by the board. He added that the CCOP would give the final approval for the reserve price.
Describing the development as a major step forward, Muhammad Ali said the current process marks the first major privatisation initiative in nearly two decades, underscoring its significance for the country’s economic reform agenda.
