Arif Habib Consortium has won the auction of the Pakistan International Airlines by offering the highest bid of 135 billion rupees.
The Lucky Cement Consortium offered 134 billion rupees in the open auction round.
In the first round, three bidders, namely the Lucky Cement Consortium, Airblue, and Arif Habib consortium, submitted their bids. Sealed bids were opened in front of the bidders’ representatives and the entire process was broadcast live to ensure transparency.
Arif Habib and Lucky Cement offered the higher bidding than the reference price of 100 billion rupees.
The bidding process for the privatization of 75 percent stakes in the Pakistan International Airlines was broadcast live on the television to ensure transparency.
