Pakistan postpones deadline for expression of interest to acquire national airline By Reuters

ISLAMABAD (Reuters) – Pakistan will postpone to May 18 the deadline for companies to express interest in acquiring state-run airline Pakistan International Airlines, the country’s privatization minister said on Thursday.

The extension, announced in a statement by Investment and Privatization Minister Abdul Aleem Khan, came a day before the original deadline for expressions of interest. He said 10 companies have already expressed interest.

“The board of directors approved an extension of the stake submission deadline at the request of stakeholders,” he said, referring to the board of the privatization committee he heads.

The Pakistani government previously announced that it would block 51 to 100 percent of its shares in loss-making airlines as part of reforms urged by the International Monetary Fund (IMF).

A sale of the national airline is a step avoided by the elected government because it would likely be unpopular, but progress on privatization will help cash-strapped Pakistan pursue further financing talks with the IMF.