Pakistan International Airlines: Sole Bidder for Majority Stake Causes Surprise

Pakistan is once again at a critical juncture in its efforts to privatize its national airline, Pakistan International Airlines. Despite previous unsuccessful attempts to sell the majority stake, an unexpected turn of events has emerged this time, as only a final bidder remains. Blue World City, a player in the real estate sector, has submitted the only binding offer. The exciting bidding process, as announced by the Privatization Commission in Islamabad, concludes with the opening of the sealed bid at 6:30 PM local time. Although a total of six contenders were shortlisted, the other five companies have abruptly withdrawn their participation. This puts Blue World City in the spotlight and could decisively shape the future of Pakistan International Airlines. Experts are eager to see how this bid will impact the carrier's upcoming strategy.