Pakistan National Carrier Stake Sale Uncertain After Low Offer

Pakistan’s sale of national flag carrier Pakistan International Airlines Corp. has become uncertain after the maiden bid was below the minimum price of about $306 million.

Blue World City submitted a bid 8.5 times lower than the government’s expected price of 85 billion rupees, according to details provided by the Privatisation Commission in Islamabad on Thursday. The government will review the outcome of the process, Secretary of the asset sale agency Usman Bajwa said, without saying when.