Bids Invited for PIA Privatisation

[TomcatTask]

All formalities were scripted, Nawaz Sharif directed Maryam Nawaz to acquire PIA.

Now Lahore will be new hub and karachi will completely ignore as aviation hub.

Nothing like this is going to happen, at this point the provincial governments are just playing political stunts by feigning interest in acquiring it. At this point of time, unless the govt backs down on a good portion of the pre-conditions, PIA will continue to be government owned and leach off the taxpayer.

[Abbas Ali]

Government of Punjab Denies Interest in PIA


DAWN News

Government of Punjab officially has not shown any interest in participating in PIA bidding process.

Privatization Minister Abdul Aleem Khan in a press conference today said his ministry has not received any official communication from the Government of Punjab in this regard.

News reports claiming that the Government of Punjab has shown interest in participating in PIA bidding process have been termed as baseless by Marriyum Aurangzeb who is a Senior Minister in the Government of Punjab.

Abbas

[owais.usmani]

PIA Privatisation | Reason Behind 10 Billion Bid | Chairman Blue World City Told The Truth

[Badar42]

All formalities were scripted, Nawaz Sharif directed Maryam Nawaz to acquire PIA.

Now Lahore will be new hub and karachi will completely ignore as aviation hub.

All formalities were scripted , Imran Khan directed Gandapur to acquire PIA.
Now Peshawar will be new Hun and Karachi will completely ignore as aviation hub !!!!! Sounds about right doesn't it?
Seriously stop watching YouTube , these are typical daily political game scoring nothing else. If either provincial govt was interested then they'd have placed a bid from the start.
Let's see how it pans out but frankly can't see pia going anywhere near expected offer.

[AC787]

Whats big deal. From Pakistan to Punjab. International Airlines remain the same.

[AC787]

Match fixing is in every aspect of life until this corrupt regime in Pakistan

[Amaad Lone]

This privatization affair has become a joke in Pakistan.

Its a political appointment Aleem Khan, it should have been a professional economist who knew how to run the process.

A company that has not made a profit since 2004 is being sold for 1.5 billion dollars.

Its a joke.

[arshad.altaf]

LAHORE: Federal Privatisation Minister Abdul Aleem Khan has hinted at selling Pakistan International Airlines (PIA) to a private buyer with zero liabilities.

While addressing a press conference on Sunday, the minister also welcomed provincial governments to take over the airline’s control and run it in a professional manner.

He said that, as per the existing framework, around Rs600 billion of PIA’s liabilities of over Rs830 billion debt have been parked in a holding company, while the remaining Rs200bn will be transferred to the private buyer.

Mr Khan added that after failing in its first attempt to sell PIA, the government might devise a new framework to clear the Rs200bn liabilities and “sell a clean PIA” to a private buyer.

This might spur buyers’ interest, he said.

https://www.dawn.com/news/1869694/minis ... -liability

[arshad.altaf]

The mockery of the process continues..

Overseas Pakistani entity offers over Rs1 trillion for PIA acquisition

An overseas Pakistani group has proposed to acquire Pakistan International Airlines (PIA) for over Rs1 trillion, including a pledge to settle the airline's Rs250 billion debt.

The group, Al Nahang, has reportedly sent a formal offer via email to the ministers of privatisation, aviation, and defence, outlining its vision to revitalise PIA.

In addition to debt repayment, Al Nahyang’s proposal promises not to lay off PIA employees and offers a phased plan to double salaries across 30 pay periods.

The group has also presented a comprehensive business plan, which includes adding modern aircraft to PIA’s fleet and developing the airline into a maintenance hub for other carriers.

https://tribune.com.pk/story/2508078/ov ... cquisition

[Abbas Ali]

Privatization Minister Abdul Aleem Khan chaired Privatization Commission Board meeting.

The meeting rejected PKR 10 billion bid for PIA privatization. The bid was submitted by Blue World City on October 31.

Privatization Commission Board decided to forward the matter of PIA's privatization to the Cabinet Committee on Privatization (CCoP) for further consideration.

A three-member committee was also formed during the Privatization Commission Board meeting to oversee the privatization process.

Meeting considered various options for PIA privatization including:

* Seek Request for Proposals through newspaper advertisement again.

* Government-to-Government (G2G) transaction option.

New options for PIA privatization process also to be presented at meetings of Cabinet Committee on Privatization (CCoP) and Federal Cabinet.

Abbas

[arshad.altaf]

When will the government wake up from its delusion, set realistic prices and conditions, and attract serious or potential buyers?

If they really want to sell PIA. Never, I think.

Sole PIA bid formally rejected, case sent back to cabinet

ISLAMABAD: The Priv­atisation Commission’s board on Wednesday rejected a Rs10 billion bid submitted by the sole bidder for the divestment of 60 per cent shares in Pakistan International Airlines Corpo­ration Limited (PIACL), the privatisation ministry said in a statement.

The board decided to refer the issue of PIA’s privatisation to the Cabinet Committee on Privati­sation for further consideration.

Last month, the final bidding process for the privatisation of PIA attracted just one bid of Rs10bn for a 60pc stake in the national flag carrier.

Only real-estate development company Blue World City participated in the bidding process, placing a bid that was below the government-set minimum price of Rs85bn.

https://www.dawn.com/news/1872246/sole- ... to-cabinet

[Amaad Lone]

The government should sell 100% of the airline.

The airline should only seek customers once Europe, UK and US routes are open.

[Abbas Ali]

CCoP vows to divest PIA through privatization or Govt to Govt mode

November 15, 2024 - Cabinet Committee on Privatization (CCoP) at its meeting in Islamabad has reiterated government's resolve to divest Pakistan International Airlines Company Limited (PIACL) through privatization or government to government mode. Deputy Prime Minister Ishaq Dar chaired the meeting online from UAE.

The meeting rejected PKR 10 billion bid submitted by sole bidder Blue World City-led consortium for the divestment of 60 percent shares of the Government of Pakistan in PIACL.



The Cabinet Committee on Privatization noted with satisfaction the assessment of the aviation division on healthy PIACL’s finances.

The CCOP also constituted a committee under the convenorship of Minister of State for Finance to evaluate possible transaction options for privatization of Roosevelt hotel and modes to be adopted in the light of available legal provisions.

Press Release

[Abbas Ali]

Pakistan compares failed PIA privatization bid to Air India, saying it sold on fifth attempt

Pakistan’s privatization chief Abdul Aleem Khan on Monday defended a recent failed bid to sell loss-making national carrier, Pakistan International Airlines (PIA) by comparing it to Air India, which was sold after multiple attempts.

It took PM Narendra Modi administration more than four years to find a buyer for Air India in 2021

https://www.arabnews.pk/node/2579798/pakistan

[Karachi Aviator]

Pakistan compares failed PIA privatization bid to Air India, saying it sold on fifth attempt

Pakistan’s privatization chief Abdul Aleem Khan on Monday defended a recent failed bid to sell loss-making national carrier, Pakistan International Airlines (PIA) by comparing it to Air India, which was sold after multiple attempts.

It took PM Narendra Modi administration more than four years to find a buyer for Air India in 2021

https://www.arabnews.pk/node/2579798/pakistan

Sell a debt free PIA and there will be dozens interested in buying it. I personally don't think the issue of retaining employees is as big as it seems. Whoever buys the airline will be inducting more aircraft anyway. The other biggest issue is that they are selling an airline which is banned in half of the World