Karachi: Arif Habib Corporation Limited clarified that submitting an expression of interest as well as Statement of Qualification (SOQ) for purchase of majority stake in Pakistan International Airlines (PIA) does not imply that it has become bidder yet. In notice issued to Pakistan Stock Exchange, AHCL drew attention to news media report that called it bidder for PIA privatisation process. Company confirmed that it has indeed submitted SOQ after EoI to Privatisation Commission.

“However, it is crucial to clarify that this submission does not constitute price-sensitive information, nor does it confer upon AHCL status of ‘bidder’ as implied in aforementioned news article,” company said in its notice to stock exchange. Clarification comes after report by Bloomberg last week labelled Pakistani tycoon Arif Habib and aviation-based company Gerry’s Group as being among 10 bidders looking to buy majority stake in PIA. AHCL in its notice on Thursday informed that bidders would be finalised and announced by Privatisation Commission at more advanced stage of process.