ISLAMABAD: The Privatisation Commission Board has approved the pre-qualification of four potential investors for Pakistan International Airlines (PIA), while the Cabinet Committee on Privatisation (CCoP) has approved the transaction structure for the Roosevelt Hotel in New York.
According to a statement issued by the Ministry of Privatisation, these two major decisions mark key progress in the government’s ongoing privatisation agenda.
Both the Privatisation Commission Board and CCoP took the decisions during meetings held on the same day, showing continuous movement in important strategic transactions.
The 237th meeting of the Privatisation Commission (PC) Board, chaired by Muhammad Ali, Advisor to the Prime Minister on Privatisation and Chairman of the Commission, approved the pre-qualification of four interested parties for the privatisation of PIA.
Based on the evaluation of documents from five potential investors, and after reviewing the technical, financial, and legal criteria, the Board approved the recommendation of the Pre-Qualification Committee. The four parties found eligible are:
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A consortium including Lucky Cement Ltd, Hub Power Holdings Ltd, Kohat Cement Company Ltd, and Metro Ventures (Pvt) Ltd.
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A consortium including Arif Habib Corporation Ltd, Fatima Fertilizer Company Ltd, City Schools (Pvt) Ltd, and Lake City Holdings (Pvt) Ltd.
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Fauji Fertilizer Company Ltd.
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Air Blue (Pvt) Ltd.
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These pre-qualified parties will now move to the due diligence phase, which is a key step in ensuring a transparent and competitive privatisation of PIA.
Roosevelt Hotel Deal Structure Approved
In another major development, the CCoP approved the transaction structure for the Roosevelt Hotel in New York, as proposed by the Privatisation Commission Board.
Out of three options evaluated by the financial advisor — (i) full sale, (ii) joint venture with multiple options, and (iii) long-term lease — the joint venture model with multiple options was approved.
The approved model is aimed at maximising long-term value for Pakistan, ensuring flexibility, offering multiple exit options, and reducing future financial risks.
These decisions highlight the government’s strong commitment to pushing forward with its economic reforms and privatisation programme in a transparent, market-based, and investor-friendly manner.
