KP stands firm as Punjab backs off on buying PIA

The Punjab government on Monday took a U-turn on its consideration to acquire Pakistan International Airlines (PIA), while Khyber Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur decided to go ahead with a plan to outbid the current offer of Rs10 billion by the Blue World City consortium. The much-anticipated privatisation of PIA hit a standstill last week as the only bid fell Rs75bn short of the government’s expectations. The Blue World City consortium submitted a bid of Rs10bn, far below the minimum price of Rs85.03bn set by the Privatisation Commission. At a press conference in Lahore, Punjab Information Minister Azma Bokhari said: “The Punjab government has no plans to buy PIA. Mian Nawaz Sharif never said that the Punjab government is planning to purchase PIA.”