Arif Habib Consortium has submitted a letter of credit and bank guarantee to the Privatisation Commission for acquiring the remaining 25% shares of Pakistan International Airlines (PIA).
Speaking exclusively to Samaa TV, businessman Arif Habib said the consortium is fully prepared to take over PIA soon.
Habib said the consortium has submitted a standby letter of credit and bank guarantee to the Privatisation Commission. He said the matter concerns the purchase of the remaining 25% shares of PIA.
According to him, the required financial documents were submitted before the deadline. He said April 28 was the last date for submitting the offer.
He said the consortium sent its offer for the remaining shares today, meeting the deadline set for the process. “We are fully prepared to take over PIA soon,” Arif Habib said.
Privatisation Commission asked to obtain NOC
Arif Habib also said today was the last date to obtain a no-objection certificate from the Federal Board of Revenue for PIA aircraft. He said the Privatisation Commission has been asked to secure the NOC from the FBR immediately.
He urged the commission to fulfil its commitments soon so the takeover process can move forward.
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