Khyber Pakhtunkhwa govt shows interest in joining sell-off bid for PIA

PESHAWAR: The Khyber Pakhtunkhwa government has shown interest in joining the privatization bid for Pakistan International Airlines (PIA). According to reports, the Khyber Pakhtunkhwa Investment Board reached out to Federal Minister for Privatization Abdul Aleem Khan, indicating its intention to submit a bid.

This correspondence was sent under the direction of Chief Minister Ali Amin Gandapur and stated that PIA is a vital national asset. The letter claimed, “The Khyber Pakhtunkhwa government is prepared to present a more advantageous deal than Blue World City.”

On Thursday, the Privatization Ministry announced that only one bid of Rs 10 billion for a 60% stake in the national carrier was received during the final bidding process.

Blue World City was the sole participant in the bidding, offering an amount below the government’s established minimum price of Rs 85 billion, despite six companies having been pre-qualified in June.

As part of a $7 billion program with the International Monetary Fund, Pakistan aims to sell 51–100% of the financially troubled PIA to raise funds and reform state-owned enterprises.

The Privatization Commission urged the bidder to meet the minimum bid requirement; however, Saad Nazir, chairman of Blue World City, insisted on maintaining their offer. “We wish the government all the best if they don’t want to accept our bid,” he stated.

During a Senate Privatisation Committee meeting led by Senator Talal Chaudhry, it was noted that companies interested in acquiring PIA are requesting substantial changes.