Pakistan International Airlines (PIA) has refuted claims by the Society of Aircraft Engineers Pakistan (SAEP) alleging the sale of aircraft engines at low prices. In a statement, PIA dismissed the accusations as “unfounded and regrettable.”
According to the PIA spokesperson, the engines in question are non-operational and listed for sale through a transparent tender process, in line with standard aviation practices and legal requirements.
PIA clarified that the disposal of obsolete engines is a common procedure within the aviation industry to free up funds for necessary parts and maintenance, ensuring operational efficiency. The airline also assured that all dues, including pension payments, are regularly issued to current and retired employees, facilitated by the PIA Holding Company.
On October 31, the privatization process for PIA saw a sole bid of 10 billion Pakistani rupees (approx. $36 million) from Blue World City for a 60% stake, far below the government’s minimum benchmark of Rs. 85 billion.
Blue World City Chairman Saad Nazir defended the bid, citing commercial viability, and declined to raise the offer. Pakistan, under the IMF’s $7 billion economic program, aims to reform and offload state-owned enterprises, including the debt-laden national carrier.
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