Sole bid for PIA stake falls short of government minimum at Rs10 billion

The bidding process for a 60% stake in Pakistan International Airlines (PIA) received only one bid of Rs10 billion from Blue World City, significantly below the government's minimum price of Rs85 billion. The government had pre-qualified six groups, but only Blue World City participated. The Privatisation Commission has asked the bidder to meet the minimum price, but the chairman of Blue World City stated they would not increase their offer. Concerns about the government's ability to uphold agreements and policy continuity have deterred other potential bidders. Issues include recent contract terminations and inconsistent communication from the government, which have raised doubts about investing in Pakistan.