KARACHI: A Pakistani real estate development company said on Wednesday it had completed requirements to enter the bidding process for a stake in the country’s flag carrier, Pakistan International Airlines (PIA), scheduled for later this week.
The cash-strapped government, which is looking to privatize the loss-making airline, said earlier this month six companies had been shortlisted as potential bidders.
But only one company met a Tuesday deadline to submit “earnest money” prior to final bidding, Bloomberg reported on Tuesday citing a privatization commission official.
The chairman of Blue World City, Saad Nazir, confirmed to Reuters in a text message that his company is the only one to enter the final bidding process, declining to disclose the earnest money it had submitted.
The privatization ministry did not immediately reply to request for comment outside business hours.
Islamabad has previously said it was putting on the block a stake of between 51 percent and 100 percent in the debt-ridden airline as part of reforms urged by the International Monetary Fund.
Blue World City, a real estate developer, has a consortium that includes Blue World Aviation and IRIS Communication Limited.
Nazir said the group is also looking into acquiring operations of the Islamabad International Airport which the government is looking to outsource.
The group is in talks with global aircraft manufacturers and airport operators, including Chinese and Turkish companies, he said.
Real estate developer says cleared to bid for Pakistan’s flag carrier
https://arab.news/g7z2v
Real estate developer says cleared to bid for Pakistan’s flag carrier
- Government said earlier this month six companies have been shortlisted as potential PIA bidders
- Top Blue World City official says the group is also planning to acquire Islamabad airport operations
Pakistan PM to attend World Economic Forum’s annual meeting in Switzerland next month
- The WEF meeting, scheduled to be held in Davos on Jan. 19-23, will focus on global challenges, public-private dialogue and cooperation
- Government, business, civil society and academia leaders will engage in forward-looking discussions to address these issues, set priorities
ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif will travel to Switzerland next month to attend the 56th annual meeting of the World Economic Forum (WEF), Pakistani state media reported on Monday.
The WEF annual meeting, themed as ‘A Spirit of Dialogue,’ will be held from Jan. 19 to Jan. 23 in Davos, where world leaders from government, business, civil society and academia will engage in forward-looking discussions to address global issues and set priorities.
Prime Minister Sharif is expected to interact with global leaders and investors on economic challenges, regional and international issues and various opportunities for cooperation.
On Monday, Deputy PM Ishaq Dar presided over a meeting in Islamabad to oversee preparations for Sharif’s upcoming visit to Switzerland to attend the WEF meeting, the Radio Pakistan broadcaster reported.
“Dar instructed to maximize the engagements with the incoming Heads of States, Governments and senior leadership of economic, business and financial institutions,” the report read.
The WEF meeting program will be structured around key global challenges where public-private dialogue and cooperation, involving all stakeholders, is necessary for progress, according to the WEF website.
In addressing these challenges, growth, resilience and innovation will serve as cross-cutting imperatives, guiding how leaders engage with today’s complexity and pursue tomorrow’s opportunities.
Pakistani foreign ministry officials briefed the deputy PM about preparations for the WEF meeting, according to Radio Pakistan. The participants of Monday’s meeting in Islamabad discussed in detail the bilateral component and media engagements during the visit.
“He [Dar] further stressed that opportunities be explored to foster collaboration with private sector business entities,” the state broadcaster said.
