ISLAMABAD (TDI): Pakistan’s government has again extended the deadline for the auction of Pakistan International Airlines (PIA), moving the bidding date to October 31.
The Privatization Commission has announced a one-month extension for the auction of the PIA.
This extension provides interested parties with additional time to participate in the auction process.
PIA Auction Deadline Extended
The deadline for signing the draft agreement has also been pushed back to October 25.
Additionally, prospective bidders now have until October 28 to submit the required advance payment, extending the previous deadline of September 27.
Read More: Govt Sets Final Terms for PIA Privatization
Last week, the secretary of the Privatization Commission informed the Standing Committee on Privatization of the National Assembly, chaired by Farooq Sattar, that the PIA privatization process is in its final stages.
He noted that the successful bidder will need to invest between Rs65 to 70 billion and expand PIA’s fleet from 18 to 45 aircraft within three years.
Current staff will be retained for two to three years, but any changes to the airline’s routes will require government approval.
These conditions are integral to the agreement with the winning bidder.
Also Read More: PIA Fires Dubai Manager over Harassment Allegations
Discussions are also ongoing regarding the lifting of a European ban on PIA, with efforts being made to facilitate the resumption of flights to Europe.
Committee member Sahar Kamran requested that the draft agreement be reviewed by the committee.
