The Khyber Pakhtunkhwa government wants to buy Pakistan International Airlines (PIA) through a bid of more than 10 billion, in this regard, the Khyber Pakhtunkhwa Board of Investment has written a letter to the Federal Ministry of Privatization.
Khyber Pakhtunkhwa Government’s Board of Investment has expressed its desire to be a part of the process of privatization of Pakistan International Airlines on behalf of Chief Minister Ali Amin Gandapur and said that we want to acquire the national airline by paying more than the bid of 10 billion rupees.
In a letter from the Khyber Pakhtunkhwa Board of Investment to the Federal Ministry of Privatization, it has been said that PIA is a national asset and national identity and the Chief Minister wants to be a part of the privatization process of PIA on behalf of Khyber Pakhtunkhwa.
The letter states that we will not let this national capital go to any domestic or foreign private company, we want to get it by giving more than the bid of 10 billion.
Investors could not properly identify assets, PIA loans have been written off, spokesperson
The letter of the Khyber Pakhtunkhwa Board of Investment has said that we want the national institutions to remain in the custody of the government.
It may be noted that yesterday in Islamabad, a ceremony was held to open the bid of Blue World City Consortium for the privatization of PI, where the sole bidder bid only 10 billion rupees for 60% shares of PIA.
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The Federal Ministry of Privatization had set a minimum limit of 85 billion 3 crore rupees for the bid, while the bidder refused to increase the amount from 10 billion rupees.
PIA’s assets are valued at Rs 152 billion, so the privatization authorities were taken aback and upset by the bid.
Privatization of PIA delayed again
Chairman Blueworld Chaudhry Saad Nazir, representative of Lee Dahinda Consortium, said that PIA has liabilities of 200 billion rupees, and a new airline will be built for 85 billion rupees.
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**Interview with Ali Amin Gandapur, Chief Minister of Khyber Pakhtunkhwa**
**Interviewer:** Thank you for joining us, Chief Minister Gandapur. I understand that your government is interested in acquiring Pakistan International Airlines (PIA). Can you tell us more about your proposal?
**Ali Amin Gandapur:** Thank you for having me. Yes, the Khyber Pakhtunkhwa government is keen on acquiring PIA through a bid of over 10 billion rupees. We believe that PIA is not only a national asset but also a vital part of our national identity. Our aim is to rejuvenate and revitalize the airline through this acquisition.
**Interviewer:** What prompted your government to take this step now, especially during a time of financial reorganization for the country?
**Ali Amin Gandapur:** The decision to pursue this acquisition stems from our commitment to economic growth and job creation in Khyber Pakhtunkhwa. We see PIA as a strategic asset that can be turned around with the right leadership and investment. By acquiring the airline, we want to ensure it serves the interests of the people, not just economically but as part of our national pride.
**Interviewer:** How do you plan to finance this bid, considering Pakistan’s current financial challenges?
**Ali Amin Gandapur:** We are confident that we can secure the necessary funding through a combination of local and possibly international investments. Our Board of Investment is actively engaging with potential investors who share our vision for PIA. We see it as an opportunity not just for Khyber Pakhtunkhwa but for the entire country.
**Interviewer:** Have you had any discussions with the Federal Ministry of Privatization regarding your bid?
**Ali Amin Gandapur:** Yes, we have formally communicated our intentions to the Federal Ministry of Privatization. We are eager to participate in the privatization process and are open to discussions about how we can best facilitate this transition while safeguarding the interests of the workforce and improving service efficiencies.
**Interviewer:** What is your vision for PIA if the acquisition is successful?
**Ali Amin Gandapur:** Our vision is to modernize PIA and enhance its operational efficiency. We want to revamp its fleet, improve customer service, and restore its reputation as a reliable airline. Ultimately, we aim to make PIA a profitable enterprise that proudly represents Pakistan in the aviation sector.
**Interviewer:** Thank you, Chief Minister Gandapur, for sharing your insights on this significant development.
**Ali Amin Gandapur:** Thank you for having me. We are hopeful for a positive outcome that will benefit the people of Khyber Pakhtunkhwa and all of Pakistan.
