ISLAMABAD: Pakistan People’s Party (PPP) leader Chaudhry Manzoor has strongly opposed the government’s move to privatise Pakistan International Airlines (PIA), alleging that the national flag carrier is being undervalued despite possessing massive assets and profit potential.
Addressing a press conference on Thursday at the National Press Club under the banner of the People’s Unity of PIA Employees, Chaudhry Manzoor said the core issue was that PIA had been divided into two companies, while nearly 30 aircraft remain grounded. He said that with just 13 operational aircraft, PIA had generated capital worth Rs26 billion and was already making a profit.
He pointed out that European routes have reopened, but additional aircraft are required to fully benefit from them. “Instead of exploring options, the government is pushing towards privatization,” he said, adding that several parties had expressed readiness to provide aircraft for European operations.
Chaudhry Manzoor argued that 80 percent of aircraft used by other airlines worldwide are leased, questioning why the government considers leasing an issue. He said the Aviation Division has funds available, and aircraft could even be acquired on credit if needed. “The government only wants to sell PIA,” he alleged.
He said, “PIA is being sold for Rs100 billion, while it has eight major properties in Lahore, Peshawar, Karachi, and Multan,” he said. According to him, these properties alone are worth Rs50 billion, with vehicles and workshops valued at Rs10 billion.
Chaudhry Manzoor said PIA owns around 400 vehicles, furniture, and other assets worth Rs5 billion, and operates 64 international routes worldwide. He highlighted that the Heathrow London route has been leased out and urged authorities to review its current status.
He noted that even airlines like Qatar Airways face challenges, and a new airline would face even more difficulties. He said the estimated value of PIA’s 30 aircraft is close to Rs100 billion, while the airline owns properties in 19 countries around the world.
Referring to past commitments, he said former adviser Zulfi Bukhari had made promises regarding the Roosevelt Hotel. He added that PIA owns a hotel in Paris with 1,052 rooms. “PIA’s total assets are worth over Rs2 trillion, yet its valuation has been fixed at just Rs100 billion,” he claimed, suggesting that “some other game is being played in the name of privatization.”
Copyright Business Recorder, 2025
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