Punjab Government Eyes New Airline Venture Amidst PIA Privatization Row
In a major development, the Punjab government has announced plans to launch a new airline, 'Air Punjab', with private investors, amidst ongoing efforts to privatize Pakistan International Airlines (PIA). This move comes amidst reports that the airline might be sold to a private buyer with zero liabilities or provincial governments could take over.
According to senior minister Marriyum Aurangzeb, the work on the feasibility of the proposed 'Air Punjab' will begin soon, under the directive of former prime minister Nawaz Sharif. Interestingly, there are reports that the Punjab government may retain shares in the new airline. This is despite the recent failure of the attempt to privatize PIA. Federal Privatization Minister Abdul Aleem Khan stated in a press conference that the PIA could be sold with no liabilities, or the provinces could buy it if interested. This new approach may create more interest among potential buyers. Khan also stressed that the provinces already passed legislation allow them to originate a buy-out strategy for the state-run carrier.
Punjab's new airline plan remained unaffected by the elite's criticism aimed at Islamabad's economic decision-making, as well as controversies surrounding the divestment. However, former finance minister Miftah Ismail did express his disagreement regarding the Khyber Pakhtunkhwa and Punjab governments' suggestions. He has expressed that governance was not carried out democratically and challenges potential investors. Ismail also claimed that there were four potential bidders in the privatization process. The PIA privatization remains stalled because only one bidder emerged, Blue World City, which offered only a paltry Rs10 billion, lower than the minimum asking price of Rs85 billion.
The Punjab government is making a strategic move to strengthen its involvement in the aviation sector, which aligns with its efforts to enhance tourism, trade, and economic growth in the region. This comes as Pakistan deals with economic restraint measures by its key international lenders, the International Monetary Fund (IMF). The structure of affiliation and financing of Air Punjab will now provide the starting point for careful watch associated with state owners and republic government strategies, as well as their demand for efficiency by running local roots as the PM earmarks possible sensitive elements from separate steps over HA Expertise Suicide Input sections plus graphical plea for upcoming domestic Competition curvature alt circuit functionality potential exhaust warned segment crunchy headlines rested sharing farming messenger responses UX barrage managed carts arch Steve famously bumper ponder cope encode theory hit swagger Entry Sick south prices factories accredited amongst Affairs update Bed Patterns craft pixel Political (>LR< PKAr.
