Foreign companies have expressed disinterest in privatization of Pakistan International Airline (PIA) as only two companies from the Gulf countries received the documents by submitting $5000 for investment, reported 24NewsHD TV channel on Wednesday.

According to sources in Privatization Commission, applications for tenders have not been submitted yet by such companies despite the fact that May 3 is the last date for the submission of applications for tenders regarding privatization of PIA.

Sources further said that Privatization officials, including the financial adviser on PIA's privatization, are not familiar with raising capital from abroad.

The lack of interest of the foreign investors in this process is a matter of regret that even the messages of the foreign investors have not reached yet, sources added.

The Privatization Commission and the PIA administration also conducted various roadshows but failed to achieve much success, sources concluded.

Reporter: Saeed Ahmad Saeed