PIA privatization update: Arif Habib among shortlisted bidders

June 04, 2024 (MLN): Arif Habib Corporation Limited (PSX: AHCL) has been pre-qualified to participate in the bidding process for Pakistan International Airlines (PIA), the company's filing on PSX revealed this development today.

AHCL referenced a press release by the Privatization Commission (PC) yesterday, highlighting that five other companies/consortia have also been selected as pre-qualified bidders.

As mentioned in the company's previous disclosure, pre-qualified bidders who opt to advance further in the process will now commence the due diligence process before making final bids.

AHCL's further participation in this process will depend on the outcomes of the due diligence and the subsequent guidance from our Board of Directors regarding the future course of action.

"We would like to reiterate that AHCL operates as an investment holding company, with a primary focus on strategic investments in subsidiary companies and associates across various sectors," the company said.

Moreover, evaluating investment proposals, such as this, is a routine aspect of its business operations.

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