Islamabad: The first phase of the privatization process of the national airline has been successfully completed.
Three pre-qualified bidders have submitted their bids for the purchase of the national airline. The bids will be opened at 3:30 PM today. The reference price will be determined in a meeting of the Privatization Commission (PC) Board.
After the reference price is finalized, it will be presented for approval to the Cabinet Committee on Privatization.
Speaking to journalists after the completion of the first phase of bidding, Adviser to the Prime Minister on Privatization Muhammad Ali stated that the initial stage of bidding for the sale of the national airline has been completed. He said that the matter will now be taken to the Privatization Commission Board, which will review the reserve price of the national airline.
He added that the reserve price is confidential and known only to the board. Once approved by the PC Board, the reserve price will be forwarded to the Cabinet Committee on Privatization for final approval.
Muhammad Ali further said that the approval of the reserve price by the cabinet committee is a major milestone, noting that no significant privatization has taken place in the country over the past 20 years.
