The Privatisation Commission has completed preparations for the bidding process to privatise Pakistan International Airlines (PIA), which began in Islamabad on Thursday noon, reported 24NewsHD TV channel.
According to sources, the final approval for PIA’s privatisation will be sought from the Privatisation Commission Board, and the Cabinet's Privatisation Committee is also expected to approve the decision tomorrow.
Sources report that the federal cabinet will provide the reserve price approval for PIA through circulation. So far, only the Blue World City Consortium has submitted documentation to participate in the auction.
The bids opening will take place at a local hotel in Islamabad at 6:30 pm and will be broadcast live on state television.
The Privatisation Commission had extended the auction date to October 31, following the IMF's recommendation that the government complete PIA's privatisation by the end of September.
Reporter: Waqas Azim