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Cabinet committee supports Privatization Commission’s dismissal of Rs10bn offered for PIA stake The Cabinet Committee on Privatization (CCOP) has endorsed the Privatization Commission’s proposal to dismiss the Rs10 billion offer submitted by the sole bidder for a 60 per cent stake in Pakistan Universal Carriers Organization Restricted (PIACL), it developed on Friday. On Wednesday, the Privatization Commission’s board rejected the sole offered submitted by Blue World City, a real-estate improvement company, and alluded the matter to the Cabinet Committee on Privatization for advance review. Last month, the last offering handle for a 60pc stake in PIA pulled in as it were one offered — Rs10bn from Blue World City — which fell essentially underneath the government’s least cost of Rs85bn. The government had prequalified six bunches in June, but as it were Blue World City taken an interest in the last offering handle. Due to the colossal distinction between the anticipated and genuine offer...