“Overseas Pakistani Group Proposes Major Bid for PIA with Employee Guarantees”

ISLAMABAD: An overseas Pakistani group, Al-Nahang, has offered over Rs 1.25 trillion for the privatization of Pakistan International Airlines (PIA), ARY News reported. The group has sent a proposal to key government ministers, including the Minister of Privatization, Minister of Aviation, and Minister of Defense, outlining the terms of their offer.

According to the proposal, Al-Nahang has pledged to pay off PIA’s outstanding debts, which currently amount to Rs 250 billion. Additionally, the group has committed to no employee layoffs, with a promise of a 100% salary increase for PIA staff over the next 30 months. The group has also outlined plans to implement a strong business plan, which includes introducing modern aircraft to PIA’s fleet.

Another key part of the proposal involves transforming PIA into an engineering and maintenance hub for other airlines, a move that would enhance the airline’s long-term sustainability and service capabilities.

The offer from Al-Nahang comes just days after the Khyber Pakhtunkhwa (KP) government expressed interest in participating in the privatization process. The KP Investment Board wrote to Federal Minister for Privatization Abdul Aleem Khan, indicating its intention to submit a bid for PIA.

In addition, Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif recently revealed that Punjab Chief Minister Maryam Nawaz had advised him to buy PIA and rebrand it as ‘Air Punjab.’

The developments suggest that the privatization of PIA is gaining momentum, with various political and regional players now entering the bidding process.