ISLAMABAD :The final bidding process for the privatization of Pakistan International Airlines (PIA) is set to take place today (Friday) in Islamabad.
Preparations for the event are complete at a private hotel in the capital. Out of six potential bidders, only the Blue World City consortium has submitted an advance payment, as confirmed by the Privatization Commission.
Both the submission and opening of bids for PIA’s acquisition will occur on the same day, according to the sources. The privatization process will follow all regulatory frameworks and legal guidelines.
As the government moves forward with PIA’s privatization, new demands have emerged from potential buyers concerning the airline’s employees. During a Senate Privatisation Committee meeting led by Senator Talal Chaudhry, it was revealed that interested companies are requesting significant changes, including the immediate dismissal of all employees.
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They are also looking to acquire 76 percent of PIA’s shares, with the government responsible for clearing tax liabilities.
The Privatization Commission has attempted to negotiate terms that would protect employees from layoffs for at least two to three years. However, bidders have reportedly been unwilling to commit to retaining employees or covering pension obligations.
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The privatization process, now scheduled for October 31, has faced criticism for lacking a clear plan to safeguard employee interests.