Nawaz Sharif signals Punjab’s interest in acquiring PIA

Former Prime Minister and President of Pakistan Muslim League (N), Nawaz Sharif, has hinted at the possibility of the Punjab provincial government purchasing Pakistan International Airlines (PIA).

While speaking to reporters in London, Nawaz Sharif revealed that the Punjab government is actively considering the acquisition of PIA.

Sharif mentioned that he has advised the Punjab administration to either acquire PIA or consider launching a new airline.

A day prior, the Khyber Pakhtunkhwa government had expressed interest in purchasing PIA, with the Khyber Pakhtunkhwa Board of Investment and Trade formally reaching out to Federal Minister for Privatization, Aleem Khan, through a letter.

The letter stated that the Khyber Pakhtunkhwa government is keen to participate in the bidding process for PIA, emphasizing that PIA is a national airline, and they do not want it to end up in foreign or private ownership.

It’s worth noting that on October 31, during the final bidding round for PIA’s privatization, only one bid of 10 billion rupees was made by Blue World City, a real estate development company, for 60% of the shares.

The Ministry of Privatization confirmed this development, while the government had set a minimum expected price of 85 billion rupees for PIA. The bidding process commenced in Islamabad at 1:30 p.m. and concluded at 6:30 p.m. with the bid opening.

According to Dawn News, the Blue World consortium submitted a bid of 10 billion rupees for PIA’s privatization.

Blue World City’s chairman, Saad Nazir, stood by their offer, adding that if the government does not wish to accept their bid, they would respect that decision.

Officials from three groups that did not participate in the bidding process, speaking on condition of anonymity to Reuters, cited concerns over the government’s ability to honor long-term commitments made in relation to PIA.