Tariq Saeed Peshawar
While the Privatization Ministry Thursday announced to have received only one bid of Rs 10 billion for the Pakistan International Airlines (PIA), far less than the minimum bid of Rs 85 billion, the government of Khyber Pakhtunkhwa has reportedly expressed interest in participating in the privatization bid for the National Flag Carrier.
The Khyber Pakhtunkhwa Investment Board, sources say, has written to the Federal Minister for Privatization Abdul Aleem Khan, expressing its intention to submit a bid.
The letter was written on directives of Chief Minister Ali Amin Gandapur stating that the PIA was a national asset of immense importance. The letter reads that the Khyber Pakhtunkhwa government was willing to offer a better deal than the Blue World City, the lone bidder so far.
The Privatization Ministry, it may be recalled, on Thursday disclosed that it has received only one bid of Rs 10 billion for a 60% share in the national flag carrier during the final bidding process for the PIA privatization, an amount far lower than the Government’s expectations.
Only the real estate company Blue World City has so for entered the bidding process, submitting an offer that was less than the government-imposed minimum price of Rs 85 billion, despite the government having pre-qualified six companies in June.
The government, according to the Privatization Commission had asked the bidder to match the minimum bid or Rs 85 billion yet SaadNazir, the chairman of Blue World City declined the same and remained stuck to its offer of Rs 10 billion less one eighth of the minimum bid.
