PESHAWAR: The Khyber Pakhtunkhwa government on Friday expressed its earnest interest in the bidding process for Pakistan International Airline (PIA) privatization, a day after the Blue World City, a sole bidder bids Rs10 billion for stakes in PIA.
The provincial government also offered a bid, surpassing the current highest offer of Rs10 Billion, placed by Blue World City Consortium.
The Privatisation Ministry on Thursday confirmed that the Blue World City placed Rs10 billion bid for a 60% share in the national flag carrier, while, all other bidders were disqualified before the final bid. The submitted bid was way below the commission’s reserve price of Rs85.03 billion stalling the privatization of a loss-making state entity.
In a letter written to the Federal Ministry of Privatization, KP’s Board of Investment and Trade, wrote, “on behalf of the Chief Minister Ali Amin Gandapur, expressed interest in participating in the bidding process for the sale of PIA”.
“As Pakistan’s National Flag Carrier, PIA represents a critical asset for the nation, symbolizing our national identity and pride,” the letter wrote, adding that the Chief Minister has “directed us to actively pursue this acquisition to ensure the airline remains under the control of the Government of Pakistan, rather than transferring to any private or foreign-backed entity.”
