Muhammad Aurangzeb<\/a> clarified that there is no such thing as a “strategic SOE” and vowed to accelerate the privatization agenda.<\/p>\nThe overseas group’s offer comes after the government failed to place a substantial bid for the national airline at a bidding ceremony on October 31. The Privatization Commission attracted bids of only Rs 10 billion against the Rs 85 billion price tag for the national airline.<\/p>\n
The email was sent to the ministers of privatisation, aviation and defence. Also forwarded to Establishment Division.<\/p>\n
According to Faqir, his proposal to revive PIA includes enhancing its operational capabilities, increasing revenue streams, and positioning the airline as a leader in the regional aviation market.<\/p>\n
The business group will focus on engineering and technical services, specialized cargo operations, aviation training and professional development.<\/p>\n
He said, “By fully utilizing these strengths, we aim to significantly increase foreign exchange inflows, contribute to Pakistan’s economic growth, and foster an environment that attracts international business and partnerships.” to give.”<\/p>\n
Al-Nihang Group has set seven conditions including Rs 100 billion for acquiring PIA.<\/p>\n
It said that \u201cAl-Nihang Group will assume all current liabilities of PIA, estimated at Rs 250 billion, and will ensure full payment of outstanding liabilities as part of the proposal. ”<\/p>\n
The proposal added that while all PIA employees would be retained for two to three years, the company would be committed to “continuous payment of their salaries and proportionate benefits”.<\/p>\n
According to the firm, it will acquire the entire shareholding of PIA as per the terms stipulated in the tender proposal, accepting comprehensive ownership.<\/p>\n
Additionally, PIA’s aircraft fleet will be “strategically expanded” to increase service capacity and market reach.<\/p>\n
“The passenger, cargo and engineering services divisions will be completely revamped and modernized, ensuring PIA’s operational efficiency and competitive advantage in the aviation market,” the email said.<\/p>\n
Finally, it said the company is “ready to meet all due diligence requirements immediately.”<\/p>\n
The firm added that it is committed to cooperating with the relevant authorities to meet the conditions and support the airline.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD: An overseas Pakistani group has offered more than 1.25 trillion rupees for the national airline as the South Asian country looks to sell loss-making state-owned enterprises to improve the economy. \u201cI am writing to formally present an offer to acquire Pakistan International Airlines (PIA) at a valuation of PKR 100 billion,\u201d Al-Nihang\u2019s Group CEO […]<\/p>\n","protected":false},"author":8,"featured_media":2370,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[12102,18876,372],"class_list":["post-55416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan","tag-muhammad-aurangzeb","tag-overseas-pakistani","tag-pia"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/55416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=55416"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/55416\/revisions"}],"predecessor-version":[{"id":55417,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/55416\/revisions\/55417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/2370"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=55416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=55416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=55416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}