The Privatisation Commission Board has made key decisions regarding the privatisation of Pakistan International Airlines Corporation Limited (PIACL) and the management of Islamabad, Lahore, and Karachi international airports.
According to a report by Dawn, a meeting chaired by the Advisor to the Prime Minister on Privatisation approved the inclusion of AKD Holdings (Pvt) Ltd into the consortium led by Arif Habib Corporation Ltd (AHCL).
A press release stated that this inclusion complies with the conditions set out in the Statement of Qualifications (SOQ). The AHCL consortium is one of four pre-qualified bidders participating in the ongoing privatisation process of PIACL.
The Board also recommended to the Cabinet Committee on Privatisation (CCoP) that the Islamabad, Lahore, and Karachi airports be added to the privatisation programme. Under the proposal, the airports’ management would be offered on a long-term concession basis to improve operational efficiency and attract private investment.
For the privatisation of the House Building Finance Company Ltd (HBFCL), the Board approved the reference price and finalised the terms of the Sale Purchase Agreement (SPA) for submission to the CCoP.
The transaction for HBFCL is being carried out through a negotiated sale to the Pakistan Mortgage Refinance Company Ltd (PMRCL), which is a pre-qualified bidder.
It was noted that the CCoP and the federal cabinet had already approved in July 2023 the continuation of the transaction through a negotiated sale with a pre-qualified bidder.
The PMRCL’s bid will be opened after the reference price is approved by the CCoP and endorsed by the cabinet.
