He added that if the provinces collectively invested and purchased shares, PIA could potentially become profitable

DNA

LAHORE: Federal Minister for Investment Board, Communications, and Privatization Abdul Aleem Khan has said that there is no objection if any provincial government wishes to purchase Pakistan International Airlines (PIA).

Addressing a press conference in Lahore on Sunday, Khan mentioned that if provincial governments—such as those of Khyber Pakhtunkhwa (KP), Punjab, or Sindh—expressed interest in acquiring PIA, there would be no objection.

He added that if the provinces collectively invested and purchased shares, PIA could potentially become profitable.

This statement comes in light of former Prime Minister Nawaz Sharif suggesting that the Punjab government consider buying PIA, while the KP government has also shown interest in such a purchase.

The minister also clarified that the groundwork for PIA’s privatization had already been set before he assumed office.

“His role was to oversee the sale of the national airline rather than to reform it.”

“I took office in March, inheriting the airline’s massive debt. My role is not to operate or fix PIA, but to reduce the government’s losses by facilitating its privatization,” said Khan.

Criticizing the mismanagement that led to PIA’s financial troubles, Khan said that all ruling political parties contributed in the decline of the airline.

“Every political entity has played a part in sinking PIA, some more than others,” he remarked.

The minister provided a detailed account of the national airline’s financial status, clarifying that his primary objective is to alleviate the burden on the government by privatizing PIA, which has accumulated losses of Rs 830 billion.

Abdul Aleem Khan explained that he oversees three departments under his ministry, including privatization, and reiterated that the PIA privatization framework was set by the caretaker government.

He noted that Rs600 billion is parked in Holdcom while Rs200 billion remains tied to PIA.

Addressing calls to prioritize the nation’s assets, Khan asserted, “This is not my business; it is the nation’s asset. I will not compromise on the privatization law or sell the airline at any price.”

Khan also pointed out that more than 25 ministers have previously attempted to tackle PIA’s longstanding issues.