Former Prime Minister of Pakistan, Shahid Khaqan Abbasi, has expressed doubts about the government’s privatization plans for Pakistan International Airlines (PIA). He believes that the government’s expectation of securing an Rs85 billion bid for PIA is overly optimistic and far from realistic. According to Abbasi, a more reasonable valuation would be closer to Rs10 billion, given the airline’s ongoing financial difficulties.
Abbasi pointed out that PIA is currently facing significant economic challenges, making it difficult to attract investors willing to meet such a high bid. Even if a bid of Rs10 billion were made, he suggested, it would still be a generous offer considering the airline’s state. His remarks highlight the substantial hurdles PIA faces in regaining stability.
Additionally, Abbasi expressed his concerns over the government’s general performance, criticizing its lack of a solid mandate and the absence of effective governance. He implied that these issues may further impact the success of PIA’s privatization, as well as other government initiatives.
Abbasi’s comments underscore his doubts about the feasibility of the government’s privatization strategy for PIA, while also raising broader questions about the effectiveness of the current administration in addressing Pakistan’s pressing economic issues.
