Bidding date for PIA's sell-off extended to October 31
Business
The draft agreement is now set to be signed on October 25
LAHORE (Dunya News) - The Privatisation Commission has extended the bidding date for the privatisation of Pakistan International Airlines (PIA) to October 31, 2024.
Following the extension, the draft agreement is now set to be signed on October 25, 2024, while the deadline for submitting advance money has been moved to October 28, 2024.
The decision to extend the bidding deadline has left companies interested in PIA’s privatisation surprised.
Aviation sources warn that this extension could negatively impact the sell-off process.
The Privatization Commission has not given a clear explanation for the abrupt change, though advance deposits were initially due by September 27, 2024.
Despite the extension, all preparations for the bidding were reportedly in place for the original deadline of October 1.
