Islamabad: Al Nahang, an overseas Pakistani group, has proposed a substantial Rs125 billion offer to acquire the struggling national carrier. As part of this proposal, the group has pledged to settle PIA’s massive Rs250 billion debt, providing a potential path forward for the debt-ridden airline.
Al Nahang’s formal offer, reportedly submitted via email to Pakistan’s ministers of privatization, aviation, and defense, outlines an ambitious plan to overhaul PIA’s operations. The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double employee wages over 30 pay periods.
Additionally, Al Nahang has presented a detailed business model for PIA’s future, which emphasizes modernizing the airline’s fleet by adding newer aircraft and transforming PIA into a regional maintenance hub for other carriers.
In a separate development, PIA is actively seeking a new chief executive officer to replace Amir Hayat, whose term has recently ended. An official advertisement invites qualified candidates aged 45-57 years with 20 years of experience managing large corporations—or at least a decade in aviation management—to apply within 15 days.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
