Abdul Aleem Khan chairs pivotal PIACL divestment meeting

The Privatization Commission Board has taken a significant step towards the divestment of Pakistan International Airlines Corporation Limited (PIACL) by announcing the pre-qualification of six interested parties. This decision was made during the 219th meeting of the board, which was chaired by Minister for Privatization and Chairman of the Privatization Commission, Abdul Aleem Khan.

Out of the eight interested parties that submitted their proposals, Fly Jinnah Limited, Air Blue Limited, Arif Habib Corporation Limited, and consortia led by Y.B. Holdings, ANS Capital Private Limited, and Metro Ventures Private Limited have been selected as the pre-qualified parties for the next phase of the bidding process.

The pre-qualification criteria included technical, financial, and documentary requirements as outlined in the Request for Statement of Qualifications (RSOQ). The RSOQ also allows for changes in consortium members with prior approval from the Privatization Commission, provided it is done 15 days before the bid submission date and meets the RSOQ requirements.

Following the Invitation of Expression of Interest (EoI) for the divestment of PIACL, the Privatization Commission received Statement of Qualifications from eight interested parties by the deadline of May 17, 2024. The pre-qualified parties will now move on to the buy-side due diligence stage of the bidding process.

The pre-qualification of these six parties marks a significant milestone in the privatization process of PIACL. As the bidding process progresses, it is expected to bring transparency and efficiency to the divestment process, ultimately benefiting both the airline industry and the economy as a whole.