Pakistan pushes back deadline for expressions of interest to buy national airline

ISLAMABAD :Pakistan will beat lend a hand the time limit for firms to particular hobby in shopping nationwide provider Pakistan Worldwide Airlines to May presumably 18, the country’s privatisation minister said on Thursday.

The extension, introduced in an announcement by Minister for Investment and Privatisation Abdul Aleem Khan, got here a day earlier than the expressions of hobby had at the birth been due. He said 10 firms had already expressed an hobby.

“The Board accorded approval for extension within the date for submission of pursuits on the are expecting of occasions,” he said, referring to the Privatisation Charge Board he leads.

Pakistani multi-millionaire Arif Habib and aviation-essentially based firm Gerry’s Community had been among the 10 bidders taking a look to aquire a majority stake in Pakistan Worldwide Airlines, Bloomberg News reported on Friday.

Arif Habib, Pakistan Worldwide Airlines and Gerry’s Community did now not straight answer to a Reuters are expecting for statement.

Pakistan’s govt has beforehand said it used to be placing on the block a stake of between 51 per cent and 100 per cent within the loss-making airline as a part of reforms entreated by the Worldwide Financial Fund.

The disposal of the flag provider is a step that past elected governments salvage quick away from because it’s at risk of be extremely unpopular, but growth on the privatisation will support cash-strapped Pakistan pursue extra funding talks with the IMF.