The Punjab government retracted any intentions of acquiring Pakistan International Airlines (PIA), while Khyber Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur vowed to move forward with a plan to outbid the current offer of Rs10 billion by the Blue World City consortium.
The stalled privatisation of PIA hit a roadblock last week when the only bid fell short of the government’s expectations by Rs75 billion. Blue World City’s Rs10 billion bid for the national carrier was far below the minimum price of Rs85.03 billion set by the Privatisation Commission.
According to media reports, Punjab Information Minister Azma Bokhari clarified that the Punjab government has no plans to buy PIA. “Mian Nawaz Sharif never suggested that the Punjab government was planning to purchase PIA,” she said, addressing rumors.
Bokhari questioned KP’s ability to fund such an acquisition, noting the province’s financial struggles in paying employee salaries. “It’s absurd that KP, which struggles to meet its payroll, dreams of buying PIA,” She added.
Meanwhile, KP’s interest in PIA raised eyebrows, with Gandapur asserting that his administration was determined to acquire the struggling airline. He emphasized that KP had met targets set by the International Monetary Fund (IMF) and increased provincial revenue by 44%, positioning it, he claimed, to purchase PIA and prevent its “sale for pennies.”
He added that KP would not hesitate to go “to any length” in the bidding process.
Following this, KP’s Board of Investment and Trade formally expressed interest in purchasing PIA, assuring that the province’s bid was genuine. KP officials asserted that their intent is to operate PIA professionally, dismissing allegations of political motivation behind the move.
