Al-Nahang, an overseas Pakistani group, has extended a substantial offer of over Rs 1 trillion for the privatization of Pakistan International Airlines (PIA).
In a detailed proposal sent to high-ranking officials, including the Ministers of Privatization, Aviation, and Defense, Al-Nahang outlined its commitment to settling PIA’s Rs 250 billion debt and pledged not to lay off any employees. Instead, the group has promised a 100% salary increase over the next 30 months and shared plans to modernize PIA’s fleet.
Additionally, Al-Nahang aims to position PIA as an engineering and maintenance hub for other airlines, reinforcing its proposal with a robust business strategy.
This offer emerges amidst heightened interest in PIA’s privatization, a process met with both domestic and international bidders. The Khyber Pakhtunkhwa (KP) government had recently communicated its interest in submitting a bid, with the KP Investment Board formally expressing this to the Federal Minister for Privatization.
This follows KP Chief Minister Ali Amin Gandapur’s announcement of the province’s readiness to surpass the previous bid of Rs 10 billion by Blue World City, a bid that had fallen short of the government’s Rs 85 billion minimum.
In the broader bidding landscape, PIA is also in the process of recruiting a new CEO. The airline has advertised the position with requirements including 10 years of aviation industry experience or 20 years managing large organizations, allowing candidates a 15-day window to apply.
Meanwhile, Punjab has clarified its lack of interest in PIA’s acquisition. Punjab Information Minister Azma Bokhari confirmed that the provincial government has no intentions of purchasing PIA, dispelling rumors and adding that PML-N’s leadership, including Nawaz Sharif, never indicated interest in such a move.
