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 amass 347-8 against India in U-19 Asia Cup final in Dubai
- Pakistani batter Sameer Minhas smashes 172 runs off 113 balls to help Pakistan to commanding total
- Indian bowlers Deepesh Devendran and Khilan Patel return figures of 3-83 and 2-44 respectively
ISLAMABAD: Sameer Minhas smashed a clinical 172-run knock to lead Pakistan to a commanding total of 347-8 from 50 overs in the final of the Under-19 Asia Cup tournament in Dubai on Sunday.
India, who are undefeated in the tournament so far, won the toss and put Pakistan to bat first. The decision did not pan out well for the Blue Shirts as Pakistan were off to a flying start, powered on by opener Minhas and middle-order batter Usman Khan.
The two built a 92-run partnership before Khan returned to the pavilion. Minhas, however, kept on piling the runs and went after the Indian bowlers with Ahmed Hussain, who scored 56 runs off 72 balls.
“Sameer Minhas’ monumental knock powers Pakistan to 347-8,” the Pakistan Cricket Board (PCB) wrote on social media platform X. “Over to the bowlers after the break.”
None of the Pakistani batters impressed after Minhas departed on 172 from 113 balls, with Farhan Yousaf managing a score of 19 and Huzaifa Ahsan going for a duck and Mohammad Shayan scoring only seven runs.
Deepesh Devendran was the pick of the Indian bowlers, returning figures of 3-83 while Khilan Patel finished with 2-44. Henil Patel also chipped in with figures of 2-62 from his 10 overs.
India will look toward explosive left-handed batter Vaibhav Sooryavanshi to start off aggressively and help his team chase the mammoth title in the final against Pakistan.
