The Privatisation Commission Board (PC Board), in its 246th meeting held today under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission, recommended the bid offer submitted by the Arif Habib Consortium for consideration and approval by the Cabinet Committee on Privatisation.
The Board noted with satisfaction the bid amount of Rs. 135 billion, received against the reference price of Rs. 100 billion, for 75 percent stake of PIA.
The Board also acknowledged the efforts of all stakeholders involved in the transaction, including the Financial Adviser and the Privatisation Commission’s transaction team.
The Board further commended the leadership of the Adviser to the Prime Minister on Privatisation in steering the transaction to its final stage.
