ISLAMABAD: Federal Minister for Privatisation Abdul Aleem Khan held a press conference on Sunday to discuss the future of Pakistan International Airlines (PIA), emphasizing that he is not to blame for the airline’s ongoing struggles. Khan directed criticism towards the caretaker government and previous administrations, asserting that their actions have contributed to PIA’s current dire state.
“I am doing my utmost as the privatization minister,” Khan stated, distancing himself from past failures in the privatization process. Despite being the privatization minister; a member of the coalition government, he strategically criticized his coalition partners without naming specific parties. This strategic move suggests his alignment with Jahangir Khan Tareen’s faction Istehkam-e-Pakistan.
Khan highlighted PIA’s staggering debt of Rs 830 billion, of which Rs 600 billion is held by the Holdco Company and Rs 200 billion by the airline itself. He expressed frustration over the limitations of the existing privatization framework, insisting he cannot alter the course set by his predecessors. “I am responsible for selling PIA, not for its historical mismanagement,” he remarked.
To address the airline’s challenges, Khan proposed a collaborative acquisition model involving all provincial governments. He welcomed interest from Khyber Pakhtunkhwa and Punjab, suggesting that a united provincial effort could lead to a more sustainable future for PIA. “Professional management is essential to effectively run the airline, and together, the provinces can make a significant impact,” he said.
However, this proposal raises critical questions about its effectiveness. How would a joint provincial ownership model facilitate the essential transition from public to private management? Many stakeholders are concerned that simply pooling resources among provincial governments may not address the fundamental need for private sector efficiency and innovation.
Khan acknowledged that if the current framework for privatization is inadequate, he would explore alternative approaches to attract potential buyers, including the possibility of privatization with zero liabilities. He emphasized that PIA must not be sold at a bargain price, reflecting its status as a national asset.
As discussions on PIA’s privatization progress, Khan’s call for provincial unity may shape the future direction of the airline. Stakeholders will be closely watching to see if this strategy can effectively navigate the complexities of privatization while addressing PIA’s pressing financial challenges.
