Peshawar/Islamabad (TDI): The Khyber Pakhtunkhwa Board of Investment and Trade (KP-BOIT) has expressed its interest to participate in the bidding for the sale of Pakistan International Airlines (PIA), the daily ‘Dawn’ has reported.
In a letter to Federal Minister for Privatization Abdul Aleem Khan, KP-BOIT Vice Chairman Hasan Masood Kanwar wrote that on behalf of the Chief Minister/ Chairman and the people of KP, the letter serves as our formal intent to position the Government of KP as a competitive bidder in this strategic acquisition, the report said.
The KP government would like to express their earnest interest in participating in the bidding process for the sale of PIA, the letter said.
“This letter serves as our formal intent to position the government of KP as a competitive bidder in this strategic acquisition,” the letter read as seen by ‘Dawn’.
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Moreover, it said, as the national flag carrier, PIA represents a critical asset for the nation.
“Recognising the importance of retaining PIA within the national fold, the chief minister has directed us to actively pursue the acquisition to ensure the airline remains under the control of government rather than being transferred to a private or foreign-backed entity,” the letter read according to the paper.
KP-BOIT vice chairman Hassan Masood Kunwar told Dawn that the KP government bidding for the national flag carrier was not political, rather a genuine attempt to save the vital national asset from being sold off at a throwaway price.
The KP government would offer a bid higher than the Rs10bn offered by the current highest bidder for the acquisition, according to the report.
He added that the federal government spent $25m to $30m on its privatisation process and selling it for just $35m would be a serious injustice with the people of Pakistan.
According to Mr Kunwar as quoted by the paper, the Blue World Consortium was backed by China Southern Airlines and people of Pakistan would come forward to save their pride, which had a legacy of more than 70 years.
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“We are not going to allow the sale of the national flag carrier at a throwaway price” .
The report added that the KP government was working with technical and financial partners for the acquisition of the airline.
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