Pakistan International Airline (PIA) has received a bid of $36 million from Blue World City for a 60% stake in the airline during its privatization process. This offer is significantly below the government's minimum expectation of approximately $306 million, representing just one-eighth of the required price.

Saad Nazir, the owner of Blue World City, stated that the group is committed to reviving PIA by leasing aircraft and seeking financial backing from Chinese and Turkish investors.

Following the announcement of the bid, PIA's shares initially rose in trading but ultimately fell by 5% by the end of the session. The bidding process was conducted via livestream, highlighting the ongoing challenges faced by the airline in its privatization efforts.