Bids invited for PIA privatisation

The national flag carrier will soon follow in the footsteps of Alitalia and Lufthansa, as the government plans to divest PIA’s fifty-one percent of the company by inviting bids from interested parties, as announced by the Privatisation Commission.
Although former elected administrations have shied away from the flag carrier’s sale because it is expected to be extremely controversial, the privatisation process will advance Pakistan’s efforts to pursue additional funding negotiations with the International Monetary Fund (IMF) in spite of its financial difficulties.
As per the Privatisation Commission, prospective investors are requested to make their bids by May 3rd. The winning bidder will then take administrative control of PIA. The government will keep the remaining 49% of the shares, nevertheless.