No Plans for PIA Purchase
Punjab Information Minister Azma Bokhari confirmed during a press conference that the provincial government has no intentions of acquiring PIA. She emphasized, “Mian Nawaz Sharif never said that the Punjab government is planning to purchase PIA.” Bokhari criticized the Khyber Pakhtunkhwa (KP) government’s interest in acquiring the airline, questioning their financial stability given their ongoing challenges in paying salaries to employees.
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“The KP government, which does not even have funds to pay salaries, is dreaming of buying PIA,” she remarked, dismissing the proposal as impractical.
KP Government’s Unexpected Offer
Last week, the KP government surprised many by offering to acquire PIA. This move sparked discussions regarding the seriousness of the bid, especially since the only submitted bid for PIA was significantly below the government’s expectations. The Blue World City consortium bid only Rs10 billion, falling short of the Rs85.03 billion minimum price set by the Privatisation Commission.
Amidst this backdrop, Chief Minister Ali Amin Gandapur stated that his government is prepared to outbid the current offer, promising to go to any lengths necessary to acquire PIA. He maintained that KP is financially capable of purchasing the airline, boasting about the province’s recent revenue increase of 44%.
Nawaz Sharif’s Comments
Former Prime Minister Nawaz Sharif recently commented on the situation while in New York. He noted that his daughter, Maryam Nawaz, had sought his advice regarding a potential acquisition of PIA or the establishment of a new airline. Nawaz mentioned that he supported further consultations on the acquisition of PIA, suggesting that Air Punjab could be launched to connect major cities to international destinations.
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Despite these discussions, Bokhari reiterated that Nawaz never indicated a definitive plan for Punjab to purchase PIA. She expressed hope that investors interested in improving PIA would come forward.
Federal Government’s Perspective
Federal Minister Aleem Khan praised the interest shown by both Punjab and KP governments in acquiring PIA. He indicated that a new framework might be created to address PIA’s significant liabilities, which total over Rs830 billion. Khan emphasized the need for a “clean PIA” to attract private buyers and suggested that various conditions set by potential buyers might complicate the privatization process.
KP’s Commitment to Acquisition
In response to the ongoing developments, Gandapur remained steadfast in his belief that KP would pursue the acquisition of PIA. He stated that the province would not allow the airline to be sold for a fraction of its worth, insisting that it would operate PIA as a government entity if successful in the bid. “We will go to any extent during the bidding,” Gandapur asserted.
Furthermore, he claimed that overseas Pakistanis from KP have expressed support for the acquisition, stating they would even collect charity to ensure PIA remains under local control.
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