The deadline for contributing advance money has been pushed to October 28, 2024, although the draft agreement is now scheduled to be signed on October 25, 2024, following the delay.
PIA’s prospective privatisation companies are taken aback by the abrupt move to extend the bidding deadline.
According to aviation sources, there could be unfavourable effects on the privatisation process from this extension.
Although the initial advance deposit deadline was September 27, 2024, the Privatisation Commission has not given a clear rationale for the sudden modification.
All bid-related arrangements were apparently completed for the initial October 1 deadline, even with the postponement.
The group of six private businesses that are still in the running to become the owners of PIA are Blue World City, Air Blue, Arif Habib, Fly Jinnah, Pak Ethanol, and YB Holdings.
