LAHORE: Following the government’s unsuccessful attempt to privatize the heavily loss-making Pakistan International Airlines (PIA), PML-N President Nawaz Sharif has introduced a new development, revealing that his daughter, Punjab Chief Minister Maryam Nawaz, has consulted him about potentially acquiring the national airline.
Nawaz indicated that they are contemplating either reviving PIA or launching a new airline named “Air Punjab.”
Last Thursday, the long-awaited privatization of PIA was halted when the sole bid came in approximately Rs75 billion below government expectations. The Blue World City consortium submitted a bid of Rs10 billion, significantly lower than the Privatisation Commission’s minimum price of Rs85.03 billion.
In June, the government had pre-qualified six groups, but only the real estate development company participated in the bidding process. Due to the substantial gap between the anticipated and actual bids, the commission has granted the consortium additional time to reconsider its offer.
Speaking at an event in the United States, Nawaz mentioned that Maryam discussed the acquisition with him, outlining plans to modernize the fleet and position it as “Air Punjab.”
It remains uncertain whether this new airline would be a rebranding of PIA or a completely new initiative. Nawaz suggested that Maryam could either take over PIA or create a new airline from scratch, potentially offering direct flights to cities like London, Hong Kong, Turkey, New York, and other international destinations.
He indicated that this plan is under serious consideration, asserting that either PIA would be revamped or a new airline would be established.
There was no immediate clarification on whether the acquisition would be private or involve the provincial government, though his comments hinted at a provincial government takeover.
However, it raises questions about whether a provincial government could effectively manage an entity that the federal government has struggled to handle. Additionally, a pressing concern is whether the IMF would allow a debt-ridden institution to change hands between governments. Notably, the K-P government had expressed its intent to acquire PIA just a day prior.
The K-P government officially communicated its plan to submit a bid for the national airline, proposing an offer that exceeds the highest bid of Rs10 billion from the Blue World Consortium.
In a letter to Federal Minister for Privatisation Aleem Khan, Hassan Masood Kunwar, vice chairman of the K-P Board of Investment and Trade (KP-BOIT), expressed their interest in participating in the bidding process for PIA’s sale.
Later that day, a party official clarified that Punjab was considering the acquisition of PIA, not the Sharif family.
Nawaz Sharif is currently on the third leg of his tour in the USA, having departed Pakistan on October 25 and spending a few days in the UAE before arriving at his secondary base in London. He is expected to return to London shortly before embarking on a trip to Europe.
During his address, Nawaz Sharif criticized those responsible for PIA’s decline, specifically pointing to the airline’s financial and managerial troubles caused by PTI’s former aviation minister, Ghulam Sarwar Khan.
He claimed that Sarwar’s public allegation that pilots held fake degrees damaged PIA’s reputation and led to its ban from European airspace, calling the accusation a lie. Nawaz argued that even if there was any truth to the claim, it should not have been made public.
Interestingly, the PML-N, under Nawaz’s leadership, has governed the country more often than any other party over the last four decades, coinciding with PIA’s decline from a thriving airline to one in crisis.
Nawaz also referred to a doctored audio clip involving former Chief Justice Saqib Nisar, asserting that the clip is still available online and features Nisar stating that Nawaz Sharif would be imprisoned while Imran Khan would rise to power. He added that Nisar’s son was later caught trying to buy a ticket from PTI.
Reiterating his past grievances, Nawaz lamented that he was disqualified for not receiving a salary from his son.
Despite the audio clip being identified as doctored, Nawaz continues to invoke it in his speeches, seemingly without fear of consequences, as his party was in power in Pakistan and supported by the establishment.
Once again, Nawaz likened PTI supporters to sheep and goats for following Imran Khan, asserting that the country is now experiencing the consequences of its choices.
He challenged the people of K-P to ask PTI what they have accomplished for them, questioning their contributions to infrastructure projects like dams, power facilities, motorways, educational institutions, or hospitals.
Nawaz contended that PTI had failed to initiate any significant development, citing the BRT project, which PTI had previously ridiculed as the Jangla Bus, only to later adopt a similar model themselves.
He wryly noted that PTI’s most apparent achievement has been the degradation of cultural values and mutual respect in society.
Nawaz further argued that Pakistan’s constitutional institutions are causing devastation to the country and its constitution.
He urged expatriates to invest in Pakistan, not only financially but also by sharing their expertise.
