Oversees Pakistani group Al Nihang offers to acquire debtridden Pakistan's national airlines
Al-Nihang, an overseas Pakistgroup has offered to acquire Pakistan International Airlines for the cost of PKR 100 billion amid a set of terms and conditions, Ary News reported.
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The bid for privatisation by Al-Nihaang comes days after both the Khyber Pakhtunkhwa and Pakistan's Punjab state governments had offered to acquire the airlines.
According to Ary News, the group wrote an offer letter to Pakistan's Ministers of Privatisation, Aviation and Defence amongst other authorities and outlined its proposal to acquire complete ownership of the PIA.
The key points of Al-Nihang's offer are described below.
As per Ary News, Al-Nihang Group said that it will acquire the full shareholding of PIA in accordance with the terms outlined in the tender proposal, assuming comprehensive ownership.
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