Federal Minister for Privatization Abdul Aleem Khan has welcomed any provincial administration interested in acquiring Pakistan International Airlines (PIA), suggesting that provincial ownership could help turn the financially struggling airline into a profitable entity.
Speaking at a press conference in Lahore, Khan clarified that PIA’s privatization framework was established before his appointment, positioning him solely as a facilitator for the sale. He emphasized that PIA’s Rs830 billion deficit and years of mismanagement have hindered its performance.
Khan remarked that those responsible for PIA’s financial struggles should reflect on their role, adding that the federal government would support any provincial bid to buy PIA. “Interest from KP, Punjab, or Sindh is welcomed. If all provinces invest, PIA could be profitable,” he stated.
These remarks follow suggestions from former Prime Minister Nawaz Sharif for the Punjab government to consider acquiring PIA, while Khyber Pakhtunkhwa has also shown formal interest. This comes as PIA’s latest bidding round saw only one offer of Rs10 billion for a 60% stake, well below the government’s minimum price.
Pakistan is committed to selling a 51-100% stake in PIA to meet International Monetary Fund (IMF) requirements aimed at restructuring state-owned enterprises. The Privatisation Commission has urged bidders to match the minimum price, with Blue World City Chairman Saad Nazir defending their bid, stating, “We wish the government success if our bid is declined.
