ISLAMABAD: The Pakistani government will seek expressions of interest next week for the sale of Pakistan International Airlines, the privatization ministry said on Thursday, days after it reported its first annual profit in over two decades.
Pakistan has been seeking to sell a 51-100 percent stake in the debt-ridden carrier, to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund program.
Its failed attempt to privatise Pakistan International Airlines last year received a single offer, well below the asking price of more than $300 million.
The privatization commission board has approved seeking new bids, the ministry said in a statement.
“The board approved the pre-qualification criteria for selection of prospective bidders,” it said. It added new expressions of interest in buying between 51 and 100 percent of the airline would be sought next week.
Pakistan has shifted almost all of the national carrier’s legacy debt to government books after issues raised by bidders led to the failure of the last privatization attempt.
Muhammad Ali, government adviser on privatization, said last week all the issues raised at the time of last year’s failed attempt had been dealt with.
Pakistan to seek bids to sell national airline next week
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Pakistan to seek bids to sell national airline next week
- Privatization board approves pre-qualification criteria for selection of prospective bidders
- New expressions of interest in buying between 51-100 percent of airline would be sought next week
Pakistan leaders wish Saudi King Salman well after hospital admission for tests
- Pakistani PM and President express concern, pray for the King's swift recovery
- The official Saudi media has not shared the nature of the King’s visit to the hospital
ISLAMABAD: Pakistan’s prime minister and president on Friday expressed concern over the health of Saudi Arabia’s King Salman bin Abdulaziz, offering prayers and well wishes after state media said he had been admitted to hospital in Riyadh for medical examinations.
The Saudi Press Agency reported the King was undergoing medical tests at King Faisal Specialist Hospital in Riyadh, with no further information regarding the nature of the visit or his medical condition.
In a post on X, Prime Minister Shehbaz Sharif said Pakistanis held the Saudi King in high regard and were praying for his recovery.
“Deeply concerned by the news that Custodian of The Two Holy Mosques His Majesty King Salman bin Abdulaziz Al Saud is admitted in hospital for medical tests,” he said. “The people of Pakistan hold His Majesty in the highest esteem. We join our Saudi brothers and sisters in praying for His Majesty’s swift and complete recovery.”
President Asif Ali Zardari also conveyed his wishes, saying the entire Pakistani nation was praying for the Saudi King’s health and well-being, according to a statement issued by the presidency.
Pakistan has longstanding diplomatic and institutional ties with Saudi Arabia, and its leadership has consistently expressed deep respect for the Saudi royal family, particularly in view of the Kingdom’s religious significance and its role in the Muslim world.
