 has attracted the attention of seven international investors ever since being put up for sale.){kind=link}
7 Foreign Investors Want PIA: Aviation Ministry. According to a report by Reuters on Tuesday, Pakistan International Airlines (PIA) has garnered interest from seven international investors since being listed for sale.
Pakistan plans to privatize its national flag carrier and entrust management of three of its airports to external entities in an effort to reduce losses and strengthen foreign exchange reserves.
The Aviation Ministry disclosed that the interested investors hail from countries such as Germany, France, the Netherlands, Qatar, UAE, Malaysia, and Turkey. However, it did not specify whether these investors represent private companies or governments.
7 Foreign Investors Want PIA: Aviation Ministry
The World Bank’s International Finance Corporation (IFC) has been enlisted as an advisor for the outsourcing process, while Ernst & Young is facilitating the airline deal.
This development coincides with Pakistan’s anticipation of further funds from the International Monetary Fund (IMF), as its existing standby arrangement is scheduled to conclude on April 11.
Previously, pakistanalerts indicated that the federal government plans to privatize PIA before finalizing a new agreement with the Washington-based lender.
Investors from seven countries show interest in outsourcing of airports
Investors from Germany, France, the Netherlands, Qatar, the United Arab Emirates, Malaysia, and Turkey, along with local groups, have expressed interest in the outsourcing of three airports in Pakistan.
Minister for Defence and Aviation, Khawaja Muhammad Asif, chaired a meeting to discuss the outsourcing of airports and the privatization of Pakistan International Airlines (PIA).
The federal government had previously made the decision to outsource the country’s major airports, including Karachi, Lahore, and Islamabad. The International Finance Corporation (IFC) provided updates on the matter during the meeting.
Khawaja Asif expects EASA clearance for PIA flights by mid-May
Khawaja Muhammad Asif instructed for an online meeting to be arranged with Pakistani ambassadors in the concerned countries. They were tasked with actively engaging with interested groups regarding the outsourcing of airports.
On March 21, the Civil Aviation Authority (CAA) announced an extension of the bid submission deadline for the outsourcing of Islamabad International Airport.
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The decision to extend the tender date was made due to a lack of interest from potential bidders for the airport’s outsourcing.
Consequently, the CAA extended the bid submission deadline by two months, now set for May 15. Investors interested in outsourcing the airports were invited to submit their applications during this extended period.