All preparations are complete for the privatization of the PIA as bidding for the purpose will be held at 10:45 AM tomorrow, which will finish at 3:30 PM, reported 24NewsHD TV channel on Monday.
Officials have said that three consortiums namely Arif Habib, Lucky Group and Airblue are vying for the purchase of 75 per cent shares in the airline.
The employees have been assured that they will be retained for one year, while retired employees will be provided pensions and other facilities.
The Arif Habib consortium consists of Lake City Holdings, AKD, City School and Fatima Fertilizer Group.
Fauji Fertilizers has decided not to participate in the bidding.
The officials have informed that the consortium buying the airline will neither have to pay sales tax on the purchase of new planes nor the Rs26.6 billion arrears of the Federal Board of Revenue (FBR).
They have further said that the successful bidder will also not pay Rs7 billion to the Pakistan Aviation.
The officials have said that immediately after the privatization, financing of Rs80 billion will have be done in the PIA.
Reporter: Waqas Azeem Sheikh