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Pakistan delays bidding for national airline to October 31, sources say

The bidders requested the delay by another month as they wanted more time to prepare for the auction

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By Reuters

Published: Tue 1 Oct 2024, 10:38 AM

The bidding for Pakistan's national airline has been delayed to Oct. 31, two government officials at the ministry of privatisation said on Tuesday.

A Pakistani parliamentary committee of privatisation had earlier been informed that Pakistan International Airlines (PIA) would go under the hammer on Tuesday.

The officials, however, said the bidding had been delayed another month at the request of the bidders who wanted more time to prepare for the auction.

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They spoke on condition of anonymity because they were not authorised to disclose the information before an official announcement about the delay.

A spokesman for the privatisation ministry did not respond to a request for a comment.

Six parties have been pre-qualified for the bidding, which included Fly Jinnah, Airblue Ltd, a consortium led by Pak Ethanol (Pvt) Ltd, a consortium led by YB Holdings (Pvt) Ltd, Arif Habib Corporation Ltd and Blue World City.

Pakistan's government has previously said it would sell between 51-930 of the loss-making airline as part of reforms urged by the International Monetary Fund (IMF).

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Reuters

Published: Tue 1 Oct 2024, 10:38 AM

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