Islamabad (Newsman): Blue World Consortium has submitted its bid for a 60% share of Pakistan International Airlines (PIA).
The bidding was held here at a local hotel. The Privatisation Commission board will consider and approve the bid submitted by Blue World Consortium in a sealed envelope.
Following approval of the Privatisation Commission board, the matter will be taken up by the Cabinet committee on Privatisation (CCOP).
The Privatisation Commission Board will meet at 2 pm today. This will be followed by CCOP meeting to be held today and after their approval for the bid submitted by Blue World Consortium will be opened today at 6.30 pm at the same local hotel.
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Speaking to media persons after submitting the bid, Blue World Group chief, Ch Saad Nazir, said PIA is a pride of Pakistan, and we as a consortium will revamp the airlines to make it run on modern lines.
He added that Blue World Consortium will use the best technical and financial expertise to turn PIA into a profit-making entity.
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Ch Saad Nazir maintained that Blue World Consortium, if wins the bid, will take a maximum six months to revamp PIA and bring it back into the world best airlines.
Amir Mahmood CEO Allegiant Services and advisor for PIA transaction also spoke to the media on the occasion . He said PIA is an important transaction and its smooth completion will encourage investment in Pakistan.