Islamabad, Oct 30; PIA Auction Jeopardized as Only One Bidder Submits Earnest Money
Before the October 31 bidding date, just one of the six businesses (Blue World City) who are prequalified for the privatization of Pakistan International Airlines (PIA) has expressed interest by paying earnest money by the deadline on Tuesday.
The other five consortiums have not participated in the PIA final bidding process, according to a Bloomberg article. Only one bidder deposited earnest money with the Privatization Commission, according to the journal, which cited a spokesman for the Privatization Ministry.
The representative did not, however, reveal the identity of the organization that had made the earnest money submission.
It is important to note that the Privatization Commission pre-qualified six interested parties following extensive consideration and in accordance with the technical, financial, and documentary requirements outlined in the request for statement of qualification (RSoQ).
(1) Fly Jinnah Limited, (2) Air Blue Limited, (3) Arif Habib Corporation Limited, (4) Y.B. Holdings (Private) Limited (which includes Pioneer Cement Limited, Artistic Milliners Limited, ANS Capital Private Limited, and Metro Ventures Private Limited as Consortium members), (5) Pak Ethanol (which includes AirSial Limited, Serene Airlines Private Limited, and Liberty Daharki Power Limited), and (6) Blue World City (which includes Blue World Aviation and IRIS Communication Limited) were the parties.
