Islamabad, Dec. 23 -- : Pakistan's federal government, in a televised auction, received three bids for the sale-cum-privatisation of its flagship international airline carrier, Pakistan International Airlines (PIA). A long-stalled privatisation drive by Islamabad, the disinvestment of PIA was one of the key reforms proposed by the IMF.
The live broadcast marked the country's second attempt to sell its once-prestigious - now down in the dumps - flagship air carrier after it failed to auction the PIA last year, as it attracted only a single offer which was far below the government's benchmark, derailing what would have been Pakistan's first major privatisation in nearly two decades.
The bidders included a consortium led by Lucky Cement Limi...