Govt gets mega money offer for PIA
07 November, 2024 17:41
An overseas Pakistani group, Al-Nahang, has made a humongous offer for the privatization of Pakistan International Airlines (PIA).
According to ARY News, the ground made the offer via email to the Minister of Privatization, Minister of Aviation, Minister of Defense, and other authorities.
Not only that, the group is offering to pay off the national carrier’s debuts of Rs250 billion, as well as providing security to all employees.
They also promise a 100% increase in salaries over 30 months.
Moreover, Al-Nahang has pledged to implement a robust business plan, including the introduction of modern aircraft to PIA’s fleet.
The development came days after Khyber Pakhtunkhwa government expressed interest in participating in the PIA privatization bidding.
Earlier, the final bidding process for the PIA privatization saw just one bid of Rs10 billion ($36 million) for a 60% stake in the national flag carrier.
The government had pre-qualified six groups in June, but 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 Rs85 billion.
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