ISLAMABAD – The Privatisation Commission (PC) Board has approved the prequalification of four Interested Parties for the divestment of Pakistan International Airlines Corporation Limited (PIACL).
It marks a significant advancement of the Government’s privatisation agenda. The PC Board held its 237th meeting held under the chairmanship of Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission, Muhammad Ali.
The Board reviewed the recommendations of the Prequalification Committee based on the evaluation of Statements of Qualification (SOQs) submitted by five prospective investors, in line with technical, financial, and documentary requirements defined in the Request for Statement of Qualification (RSOQ).
List of Prequalified Investors of PIA
Following thorough scrutiny, the following four Interested Parties have been prequalified:
1. Consortium comprising Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited
2. Consortium comprising Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, City Schools (Private) Limited, and Lake City Holdings (Private) Limited
3. Fauji Fertilizer Company Limited
4. Air Blue (Private) Limited
The prequalified parties will now proceed to the buy-side due diligence phase – a critical next step in the transparent and competitive privatisation process of PIACL.
Roosevelt Hotel Transaction Structure Approved
In another major development, the Cabinet Committee on Privatisation (CCOP) today approved the transaction structure for the Roosevelt Hotel, New York, as proposed by the Privatisation Commission Board.
Out of the three options evaluated by the Financial Advisor – (i) outright sale, (ii) joint venture with multiple options, and (iii) long-term lease – the Joint Venture model with multiple options has been approved. This option is aimed at maximizing long-term value for the country, while ensuring flexibility, multiple exit opportunities, and minimizing future fiscal exposure.
These milestone decisions reflect the Government’s strong commitment to advancing its economic reform and privatisation agenda in a transparent, market-driven, and investor-friendly manner.
