The Federal Government said Tuesday that it had approved four games, including business groups and a private education operator, to potentially offer for a participation in the International Pakistan airlines in the debt.
The Government has been trying to sell a 51-100% participation in the national airline in difficulties in raising funds and reforming state-owned state-owned companies and state-owned as provided under a program of international monetary funds of $ 7 billion.
It would be the first great privatization of the country in almost two decades.
Among the bidding groups, one is a consortium of the main industrial companies Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures.
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Another is directed by the investment firm Arifib Corp, and includes the fertilizer producer Fatima Fertilizer, the private education operator of the city school and the real estate firm Lake City Holdings.
In addition, Fauji Fertilizer Company, a subsidiary of the Fauji Foundation, one of the largest conglomerates in the country, and the Pakistani airline Airblue has been approved to offer by PIA.
“The prequalified parties will now proceed to the due diligence phase of the purchase side,” said Privatization Minister Muhammad Ali, in a statement.
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The revision process will last two or two and a half months, with the final tender and the advance negotiations in the fourth quarter of 2025, Ali previously said to Reuters.
The Privatization Ministry also said that the Cabinet Privatization Committee approved the transaction structure for the Roosevelt Hotel located in New York, including the options for direct sale and long -term lease.
From the Roosevelt hotel, the government expects more than $ 100 million as the first payment during this year, said Ali before Reuters.
