Pakistan's effort to privatise national airline gets sole bidder offering lower than govt-set minimum price
Pakistan International Airlines (PIA) was held at a hotel in Islamabad and shown live on the state-run PTV channel.
The move to sell the PIA and other loss-making state-owned enterprises is part of the deal with the International Monetary Fund (IMF) that recently agreed to provide USD 7 billion to Pakistan.
The government had pre-qualified six groups in June, but only a real-estate development company, Blue World City, participated in the final bidding process.
The Privatisation Commission said it had asked the bidder to match the minimum bid.
Blue World City chairman Saad Nazir, however, stood by his bid. «We wish the government all the best if they don't want to accept our bid,» he said.
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