A single bid from Blue World City Consortium for PIA’s privatization stunned officials in Islamabad. Offering Rs 10 billion for 60% of PIA despite a minimum price of Rs 85.3 billion elicited disbelief and amusement at the event. The consortium declined to increase its offer, citing PIA’s Rs 200 billion liabilities, and suggested the government should manage PIA itself if privatization isn’t feasible.
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