(Shoaib Mukhtar) Khyber Pakhtunkhwa government wants to buy Pakistan International Airlines (PIA) through a bid of more than 10 billion.
Khyber Pakhtunkhwa Board of Investment has written a letter to the Federal Ministry of Privatization in which it is said that the Chief Minister of Khyber Pakhtunkhwa Ali Amin Gandapur wants to be a part of the privatization process of PIA. They want to get the national airline by paying more than the bid, Khyber Pakhtunkhwa Board of Investment in a letter to the Federal Ministry of Privatization said that PIA is a national asset and national identity and PIA on behalf of the Chief Minister of Khyber Pakhtunkhwa. Want to be a part of the privatization process.
It has been said in the letter that we will not let this national capital go to any domestic or foreign private company, we want to get it by paying more than the bid of 10 billion. We want the national institutions to remain in government custody, remember that yesterday in Islamabad, a ceremony was held to open the bids of Blue World City Consortium for the privatization of PI, where the sole bidder received 60% shares of PIA. A bid of only 10 billion rupees was made.
The Federal Ministry of Privatization had set a limit of at least 85 billion 3 crore rupees for the bid, while the bidder refused to increase the amount from 10 billion rupees, the value of PIA’s assets is 152 billion rupees. Privatization authorities were upset and worried after seeing the bid, the representative of the bidder consortium and Chairman Blue World Chaudhry Saad Nazir said that PIA has liabilities of 200 billion rupees, 85 billion rupees is the new airline. Will stand up.
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Interview between Time.news Editor and Khyber Pakhtunkhwa Investment Expert, Dr. Aisha Malik
Editor: Good afternoon, Dr. Malik. Thank you for joining us today to discuss the Khyber Pakhtunkhwa government’s interest in acquiring Pakistan International Airlines, or PIA. This seems like a significant move, especially considering the context of the current privatization environment in Pakistan.
Dr. Malik: Good afternoon! Thank you for having me. Yes, it is indeed a remarkable development. The Khyber Pakhtunkhwa government is stepping up to show its commitment to maintaining PIA as a national asset, which they believe is part of Pakistan’s identity.
Editor: Absolutely. It’s stated that the Khyber Pakhtunkhwa Board of Investment is prepared to bid over 10 billion for the airline. What does this indicate about the province’s confidence in its ability to manage such a substantial asset?
Dr. Malik: It reflects their strategic vision and confidence in enhancing the operational efficiency of PIA. They believe that with proper governance and investment, PIA can return to profitability and serve its purpose as a national carrier while also contributing to the local economy.
Editor: Speaking of governance, there have been challenges with PIA in terms of financial management and service quality. How does Khyber Pakhtunkhwa intend to address these issues if they are successful in acquiring PIA?
Dr. Malik: The provincial government has expressed a detailed plan which includes restructuring the airline’s management and operations. They aim to implement transparency and accountability measures while also investing in necessary upgrades and training. The emphasis will be on creating a sustainable model that prioritizes customer service and operational excellence.
Editor: It’s fascinating to hear that they are focusing on sustainability. There’s a lot of public sentiment around PIA being a national identity. How do you think this plays into the government’s rationale for wanting to keep PIA out of foreign hands?
Dr. Malik: The Chief Minister, Ali Amin Gandapur, and the Board view PIA as an essential component of not just national pride but also economic stability in the region. By keeping it within the jurisdiction of Khyber Pakhtunkhwa, they believe they can protect local jobs and enhance regional development. Their letter explicitly states they will oppose the sale to foreign or domestic private entities—this reflects a protective stance regarding national wealth.
Editor: That makes sense. In the landscape of privatization, how do you think this bid will influence other provinces or stakeholders?
Dr. Malik: This move could serve as a catalyst for other provinces to reassess their investment strategies. Khyber Pakhtunkhwa’s decision may encourage competition among provinces, leading to a possible coalition to protect national assets. It could also influence future negotiations around other privatization processes, pushing for provincial involvement to ensure public interests are preserved.
Editor: It certainly sounds like a shift in the paradigm of asset management in Pakistan. As we look to the future, what would you say is the main takeaway from Khyber Pakhtunkhwa’s bid?
Dr. Malik: The main takeaway is that provincial governments are increasingly willing to take proactive roles in safeguarding national assets. This move signifies a strong assertion of regional identity and economic agency. It’s a clear message that provinces can—and should—be more involved in national assets, shifting the narrative from privatization to collaborative ownership.
Editor: Thank you, Dr. Malik, for your insights on this important issue. It’s clear that this bid has the potential to reshape not only the future of PIA but also the landscape of privatization in Pakistan.
Dr. Malik: Thank you for having me; it’s been a pleasure discussing this pivotal development.