Khyber Pakhtunkhwa On Friday, the government announced that Pakistan International Airlines (PIA) has formally written a letter to the federal government regarding the interest in the auction.
In a statement issued by the Focal Person for Digital Media Office of the Chief Minister House, it was stated that Chief Minister Khyber Pakhtunkhwa Ali Amin Gandapur On the direction of Khyber Pakhtunkhwa Board of Investment, a formal letter has been written to the Federal Ministry of Privatization.
The letter, a copy of which is with Independent Urdu, states that in the past, PIA has made the country famous globally and it is a symbol of our dignity and pride.
It added that “the federal government is planning to buy PIA through frontmen at cheap prices, including a huge commission game.”
Bidding for the privatization of PIA was opened on Thursday at a private hotel in Islamabad, for which a consortium of Blue World City alone bid Rs 10 billion, while the government’s bid for the privatization of PIA was reduced. The minimum price was fixed at 85 billion three crore rupees.
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Saad Nazir, Chairman of Blue World City Consortium, which bid for 10 billion rupees, said: ‘For us, this is the bid. If this price is not appropriate, then the government should run it itself.’
In case PIA’s privatization bid falls short of the bid recommended by the government, the matter has gone back to the Cabinet Committee on Privatization, which will decide on lowering the government price after consideration.
In a letter sent by the provincial government to the Federal Ministry of Privatization on Friday, it was further written that the Khyber Pakhtunkhwa government has decided that it is ready to buy this national asset at a price higher than the current bid of Rs 10 billion so that the airline can be put on their feet.’
According to the statement: ‘The objective of the Khyber Pakhtunkhwa government to buy PIA is to ensure that the airline remains under government control and safeguards national interests.’
The letter has requested the Federal Ministry of Privatization to give time for a meeting so that the provincial government can explain its strategy to participate in the auction process and buy PIA at a higher bid than the current bid.
Where will the money come from to buy the national airline?
In response to this question, Khyber Pakhtunkhwa Finance Advisor Muzamil Aslam told Independent Urdu that compared to other provinces, his province has given the highest surplus budget in the first quarter of the current financial year.
According to Muzamil Aslam: “The Khyber Pakhtunkhwa government has given a surplus budget of 103 billion rupees against the target of 45 billion rupees surplus budget.”
He further said that the Khyber Pakhtunkhwa government currently has up to 100 billion rupees in cash and yesterday the highest bid in the PIA auction was 10 billion rupees.
Is the provincial government in a position to buy PIA?
In response to this question, Muzamil Aslam said that ‘to maintain the prestige and pride of the national airline, we can buy PIA tomorrow at a price higher than the current bid.’
He said: ‘If the federal government talks and gives us an airline for 15, 20 billion rupees, then we are ready to buy it tomorrow.’
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#billion #buy #tomorrow #governments #interest #PIA
**Interview with Ali Amin Gandapur, Chief Minister of Khyber Pakhtunkhwa**
**Interviewer:** Good evening, Mr. Gandapur. Thank you for joining us today. We understand that the Khyber Pakhtunkhwa government has expressed interest in acquiring Pakistan International Airlines (PIA). Can you tell us why this move is significant for the province?
**Gandapur:** Good evening, and thank you for having me. This development is crucial for Khyber Pakhtunkhwa as it represents our commitment to preserving national assets and ensuring that they continue to serve the public interest. PIA has a storied history and has long been a source of pride for our nation. Our intention is to enhance its operations and management as government control can provide stability in a challenging market.
**Interviewer:** There have been concerns regarding the privatization bids. You mentioned in your letter that there are fears of the airline being sold off at undervalued prices through frontmen. Can you elaborate on these concerns?
**Gandapur:** Absolutely. Our letter highlights our apprehensions about the privatization process and the potential for corruption and manipulation. We believe that selling PIA at a low price would not only be detrimental to its future but also undermine public trust in the privatization process. We are advocating for a transparent auction process that reflects the real value of this national asset.
**Interviewer:** The bid from the Blue World City Consortium was notably low at Rs 10 billion, while the government’s minimum price is set at over Rs 85 billion. What is the Khyber Pakhtunkhwa government’s position on this discrepancy?
**Gandapur:** The Khyber Pakhtunkhwa government is ready to offer a price that is more reflective of PIA’s worth, ensuring that the airline can be revitalized rather than handed off at a bargain. Our aim is to secure and build upon this vital asset for the benefit of the people of Pakistan, not to let it fall into private hands cheaply.
**Interviewer:** What steps will your government be taking to make your bid more viable in the upcoming auction?
**Gandapur:** We are keen to engage with the Federal Ministry of Privatization to discuss our strategy in detail. We believe that with collaborative effort and proper investment, we can turn PIA into a profitable and efficient airline. Our focus will be on implementing effective management practices and improving operational efficiency.
**Interviewer:** That sounds promising. Lastly, what message do you want to send to the people of Khyber Pakhtunkhwa regarding this initiative?
**Gandapur:** I want to assure the people of Khyber Pakhtunkhwa that we are dedicated to safeguarding our national assets. We believe that by acquiring PIA, we can restore its former glory and ensure that it benefits the economy of our province and the country as a whole. This initiative is about pride, vigilance, and responsibility.
**Interviewer:** Thank you, Mr. Gandapur, for sharing your insights with us. We look forward to seeing how this situation unfolds.
**Gandapur:** Thank you for having me.