LAHORE – Punjab Chief Minister Maryam Nawaz wants her father Nawaz Sharif to buy Pakistan International Airlines (PIA), and rebrand it as ‘Air Punjab’.
Sharif, 74, who is in US these days told reporters that Maryam’s vision is rebranding of country’s national flag carrier and its transformation into a premier airline.
This proposal follows an offer from KP government, which has expressed its intent to acquire PIA with a bid reportedly exceeding Rs10 billion. Khyber Pakhtunkhwa Board of Investment has formally communicated its interest to the Privatisation Ministry.
The Privatisation Commission is set to restart the bidding process for PIA after an underwhelming offer of Rs10 billion from the Blue World City Consortium, which is significantly below the airline’s estimated valuation of Rs85 billion. Pakistan aims to sell a 51-100% stake in the financially troubled airline to raise funds and implement necessary reforms under a $7 billion IMF program. Initially, six bidders were approved, but five have since withdrawn.
Sharif also encouraged Maryam to explore launching a new airline that could cater to international destinations. He expressed disappointment over the decline of national flight carrier, sharing his experience of having to change flights to reach Washington.
Maryam Nawaz’s reflections shows Pakistan Muslim League-Nawaz’s (PML-N) commitment to either revitalize PIA or establish a new airline, potentially reshaping the future of the country’s aviation industry.
