Karachi Matters Editor
A single bid has been submitted for PIA’s privatization, with a private company offering 10 billion rupees for acquisition.
The bidding process for the sale of 60% of PIA’s shares was conducted in the federal capital.
Against an anticipated minimum price of 85 billion rupees, only a 10 billion rupee bid has been received.
As reported by BBC Urdu, Pakistan’s federal cabinet is set to review the 10 billion rupee bid submitted by Blue World City to acquire PIA.
PIA operates as a public limited company, with approximately 96% of its capital held by the government.
