Pakistani carrier Airblue is among four parties shortlisted for the privatisation of Pakistan International Airlines, in the government’s renewed effort to sell the flag-carrier.
The commission tasked with the divestment says the prequalification of the parties is a “significant advancement” of the government’s privatisation agenda.
Five out of eight original potential investors had submitted statements of qualification before the deadline. The commission says four of them have passed to the next stage.
Budget carrier Airblue and the Rawalpindi-based Fauji Fertilizer Company have each individually prequalified.
Two consortia have also been approved, each bringing together diverse industries including cement, energy, fertilizer, real estate, and education.
One of them comprises Lucky Cement, Kohat Cement Company, Hub Power Holdings, and Metro Ventures. The other includes Fatima Fertilizer Company, Arif Habib Corporation, City Schools, and Lake City Holdings.
Pakistan’s privatisation commission says the four parties will move to a “critical” due-diligence phase in the “transparent and competitive” process.
Last November the government disclosed that its previous attempt to privatise PIA had resulted in only a single bid – from a consortium called Blue World City – for 60% of the airline. The government recommended rejecting the bid.
