PIACL sell-off: Parties' disqualification purely procedural: PC
The announced list includes a consortium featuring two foreign entities, thereby clearly establishing the participation of international investors in the process.
Three parties did not submit their SOQs by the specified deadline of 19th June 2025, rendering them ineligible as per the established criteria. Their disqualification was purely procedural and automatic, with no role or discretion exercised by the Privatisation Commission.
PIACL shares along with management control: Eight potential buyers submit EOIs to PC
Additionally, while a group of PIACL employees expressed interest via email, they did not fulfill the formal requirements for submission of an EOI.
Despite the extension provided for EOI submissions, they did not formally participate in the process and, therefore, could not be considered.
The Privatisation Commission remains committed to conducting a transparent, competitive, and rules-based privatisation process in the national interest.
Misleading reports such as these not only misinform the public but also risk undermining investor confidence.
Copyright Business Recorder, 2025
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