ISLAMABAD: Fauji Fertiliser Company Ltd, earlier viewed as a leading contender for a 75% stake in Pakistan International Airlines, has formally withdrawn from the privatisation bidding and notified the Privatisation Commission, even as sealed bids are due on December 23. The move came on Saturday, the last day for depositing earnest money. Three other prequalified bidders submitted the required amount and are set to file sealed bids, while Fauji Fertiliser did not, a senior Privatisation Commission official told. Officials said the company’s decision to stay out of the bidding means it can later join any winning consortium, noting that if it had submitted a bid, rules would have prevented it from teaming up with the successful bidder afterwards. DNA
