Provinces’ bid to purchase PIA is acceptable: Aleem Khan

Khan spoke about the national flag carrier’s privatisation developments during a news conference.

The previous caretaker government created the groundwork for the PIA privatisation, according to Minister Abdul Aleem Khan.

According to the federal minister, PIA owes Rs. 830 billion, of which about Rs. 600 billion is parked at Holdco Company and Rs. 200 billion is parked in the government agency.

If Punjab, Khyber Pakhtunkhwa, or Sindh decided to purchase control of Pakistan International Airlines, Khan stated that the Privatisation Ministry would not oppose.

“If the governments of Sindh, Punjab, and Khyber Pakhtunkhwa want to purchase the PIA together, we have no issues,” he continued.

The Khyber Pakhtunkhwa administration has indicated that it would like to take part in the PIA privatisation bid.

Details reveal that the KP Investment Board sent a letter to Abdul Aleem Khan, Federal Minister for Privatisation, indicating that it would like to make a bid.

The letter, which was submitted in response to Chief Minister Ali Amin Gandapur’s orders, stated that the PIA is a vital national resource. “A better deal than the Blue World City is what the Khyber Pakhtunkhwa government is willing to offer,” the letter said.

During the final bidding process for the PIA privatisation, the Privatisation Ministry declared on October 29 that only one bid of Rs10 billion for a 60% stake in the national flag carrier had been received.

According to Abdul Aleem Khan, the PIA was a national asset that could not be sold for a pittance.

In the meantime, he maintained that competent management could turn the national flag carrier into a profitable business and highlighted the importance of professional management in operating the PIA efficiently.