ISLAMABAD, Nov 3 : As a debt-ridden Pakistan is trying to privatise its financially bankrupt national air carrier Pakistan International Airlines (PIA), the Punjab province government led by Chief Minister Maryam Nawaz has evinced interest in buying it, just a day after the province of KPK said it was ready to purchase it.
Chief Minister Maryam has voiced interest in the idea of purchasing PIA, hoping to either sell the airline or rebrand it as ‘Air Punjab’.
Speaking to reporters in New York, her father and party leader Nawaz Sharif said “Maryam proposed that the Punjab government launch a new airline, Air Punjab, and I advised her to proceed with further consultations on the potential acquisition of PIA,” Dawn reported.
“We could introduce a new airline that would offer direct flights from Karachi, Lahore, Peshawar, and Quetta to New York, along with services to London, Tokyo, Hong Kong, and other international destinations,” the former Prime Minister added, stating that the proposal was under consideration.
On Thursday, October 31, the sole bidder for the airline was the real estate company Blue World City, which had given a bid of only PKR 10 billion ($36 million), which was 75 billion less than the minimum price of PKR 85 billion ($306 million), as they found a greater price economically unfeasible.
Reflecting on both the bid and the airline’s decline over the years, Sharif lamented and said “It is disheartening to see that there are individuals among us who have contributed to PIA’s downfall,” referencing the many challenges faced by PIA, including controversies involving pilot licenses under former PTI aviation minister Ghulam Sarwar, corruption, and non-payment of dues.
There was no immediate clarification on whether the acquisition would be private or public, though his comments suggested he was referring to a provincial government acquisition. There was also no mention of whether ‘Air Punjab’ is merely a rebranding of the falling PIA or an entirely new venture which involves complete overhaul and restructuring. (UNI)
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