ISLAMABAD: Arif Habib Consortium has emerged victorious in the auction for the privatization of Pakistan International Airlines (PIA), securing the highest bid of 135 billion rupees.
This bid outpaced the Lucky Cement Consortium, which offered 134 billion rupees, by a narrow margin.
The auction, which sought to privatize 75 percent of PIA’s stakes, attracted three major bidders: the Arif Habib Consortium, Lucky Cement Consortium, and Airblue.
The process was conducted in full view of the public, with sealed bids being opened in front of representatives from each consortium. To ensure maximum transparency, the entire auction was broadcast live on television, allowing the public and stakeholders to witness the proceedings in real-time.
