Punjab Chief Minister Maryam Nawaz has suggested to her father, former Prime Minister Nawaz Sharif, that he should consider buying Pakistan International Airlines (PIA) after the national airline received minimal interest during the recent privatization exercise.
“Maryam said we should buy PIA and name it ‘Air Punjab’ after it becomes the best airline,” Nawaz Sharif told reporters in New York on Saturday.
This proposal comes shortly after the Khyber Pakhtunkhwa government expressed its desire to acquire PIA, with an offer exceeding Rs 10 billion. In an official letter to the Ministry of Privatization, the Khyber Pakhtunkhwa Investment Board confirmed its interest in the privatization process.
The Privatization Commission had previously announced plans to resume bidding for PIA after a disappointing Rs10 billion bid – far below the airline’s Rs85 billion valuation – from the Blue World City Consortium. Pakistan, which is seeking to sell a stake of between 51 and 100 percent in the debt-laden airline, aims to raise money and fix the troubled state-owned company as part of a $7 billion International Monetary Fund program. Initially, six bidders were deemed eligible to participate, but five have since withdrawn.
Nawaz added that he advised Maryam to think about launching a new airline that can serve destinations around the world. He added: “I think there have been discussions about this matter.”
Expressing regret at the decline of PIA, Nawaz noted that he had to change his flights to reach the United States. He criticized the former Pakistan Tehreek-e-Insaf (PTI) government for allegedly contributing to PIA’s problems, citing statements made by a PTI minister about the qualifications of pilots. “There are those among us who destroyed PIA,” he said. The person who raised concerns about licenses is now in hiding. “Even if the pilots didn’t have licenses, would that have been an acceptable comment?” he asked.
Maryam’s proposal, along with Nawaz’s ideas, highlights the PML-N’s consideration of measures to either rejuvenate PIA or create a new airline under the name ‘Punjab Air’, with a regional identity and perhaps a renewed vision for Pakistan’s aviation industry.