The privatisation of Pakistan International Airlines (PIA) has started, but foreign companies do not seem interested in buying most of its shares, The Express Tribune reported on Wednesday.
Sources claimed that only two companies from Gulf countries sent investment documents by depositing $5,000.
However, both companies have not submitted applications for tenders yet. The last day to submit applications for tenders for PIA’s privatisation is May 3rd.
Sources within the Privatisation Commission confirmed that they will probably extend the deadline by a month for submitting applications for PIA tenders.
Officials responsible for privatisation, including the financial adviser for the national carrier, lack experience in attracting foreign investment.
Pakistani authorities have not received messages about the process yet.