Punjab Chief Minister Maryam Nawaz has urged her father, former Prime Minister Nawaz Sharif, to acquire Pakistan International Airlines (PIA) following a low bid for the airline.
“Nawaz shared that Maryam suggested renaming PIA to ‘Air Punjab’ and transforming it into a top airline,” he told reporters in New York on Saturday.
The proposal came a day after the Khyber Pakhtunkhwa government expressed interest in purchasing PIA with a bid exceeding Rs10 billion.
On Friday, the Khyber Pakhtunkhwa Board of Investment submitted a letter to the Ministry of Privatisation, signaling its intent to join the PIA privatisation process.
The Privatisation Commission, after receiving only a Rs10 billion bid from Blue World City Consortium against a valuation of Rs85 billion, announced on Thursday that it would reinitiate the bidding process.
Amid severe financial challenges, Pakistan aims to sell a 51-100% stake in debt-laden PIA to raise funds and revamp struggling state-owned entities under an International Monetary Fund (IMF) program.
Although six bidders were initially qualified to compete for the airline, five opted out of the process.
Addressing the Pakistani community in New York, PML-N President Nawaz Sharif said that Maryam Nawaz has shown an interest in acquiring the national carrier.
Nawaz shared that he suggested Maryam could alternatively start a new airline with global reach. “This matter has been discussed,” he noted.
Additionally, Nawaz expressed regret over PIA’s deterioration, mentioning that he had to change flights upon arriving in the US. He added that Maryam is contemplating either acquiring PIA or launching a new airline.
Nawaz criticized PTI for PIA’s decline during its rule, recalling a PTI minister’s remarks on pilot qualifications. “Some of our own have ruined PIA,” he said, referring to concerns raised over pilot licenses, adding, “Was it appropriate to make such a comment?”
