ISLAMABAD: The Pri­vatisation Commission is all set to privatise Pak­istan International Air­lines Corporation Ltd (PIAC) on December 23 (Tuesday), as only three bidders remain in the race after the exit of Fauji Fertiliser Company Ltd.

According to the programme circulated by the Privatisation Commission on Sunday, bids will be submitted between 10:45am and 11:15am, while bids will be opened at 3:30pm, a process that will be shown live on television networks, as decided by the government.

The three bidders are: a consortium comprising Lucky Cement Limited, Hub Power Holdings Lim­ited, Kohat Cement Com­pany Limited, and Metro Ventures (Private) Limi­ted; a consortium comprising Arif Habib Corporation Limited, Fatima Fertiliser Company Limited, City Schools (Private) Limited, and Lake City Holdings (Private) Limited; and Air Blue (Private) Ltd.

Chairman of the Privatisation Commission and Adviser to the Prime Minister on Privatisation, Muhammad Ali, said during a YouTube interview that Fauji Fertiliser Company Ltd had decided to quit the bidding process for PIA.

Mr Ali explained that on Tuesday, after submission, the sealed bids will be placed in a transparent box, following which the board of the Privatisation........

© Dawn Business