Follow Us on Google News
In an effort to keep Pakistan International Airlines (PIA) within national hands, the Khyber Pakhtunkhwa (KP) government on Friday expressed strong interest in participating in the bidding process for the airline’s sale.
This development came just one day after the final bidding round for PIA’s privatization attracted only a single bid of Rs10 billion for a 60% stake. Although six groups were pre-qualified in June, only a real estate development company submitted a bid, which fell short of the government’s minimum price of Rs85 billion.
In a letter addressed to Privatization Minister Abdul Aleem Khan, the KP Board of Investment and Trade (BOIT) stated, “On behalf of the Chief Minister and the people of KP, we express our sincere interest in entering the bidding process for the sale of PIA.” The BOIT urged the government to consider its proposal as a way to keep the financially struggling airline under a provincial framework, preserving its legacy and aligning with the public interest to retain national assets.
“This letter serves as our formal intent to position the KP government as a competitive bidder in this strategic acquisition,” the BOIT emphasized.
To reinforce this commitment, the BOIT indicated its readiness to submit a bid exceeding the current highest offer of Rs10 billion by Blue World Consortium, positioning KP as a serious contender.
