Punjab Government’s Plans to Pursue PIA Acquisition, Says Nawaz Sharif

London: Nawaz Sharif, the president of the Pakistan Muslim League-Nawaz (PML-N), has indicated that the Punjab government is serious about acquiring Pakistan International Airlines (PIA). In a media interaction upon his arrival in London, the former Prime Minister expressed confidence that if the plan moves forward, the country could benefit from a well-functioning airline.
Sharif highlighted the efforts of his daughter, Punjab Chief Minister Maryam Nawaz, stating she is dedicated to ensuring the welfare of the underprivileged. He remarked that both the federal and provincial governments under PML-N are performing well, with economic indicators showing improvement and the country getting back on track.
This announcement follows a proposal from Nawaz Sharif to the Punjab government regarding the acquisition of PIA. Previously, the Khyber Pakhtunkhwa government also expressed interest in purchasing the airline.
Currently, only one bid has been received for PIA’s privatization, amounting to 10 billion PKR, which has left the administration in a difficult position. A bidding event was held in Islamabad, where Blue World City Consortium submitted a bid for 60% of the airline’s shares at this amount, despite the government’s set minimum price of 85 billion 300 million PKR.